The first groundbreaking is done and then heavy rain or days of continuous rain floods the construction site. Or heavy snowfall sets in and everything freezes for weeks. Disaster on the construction site. Or? Not necessarily. We explain how construction insurance can help you.
What should become a home one day sinks in the snow. The construction work is suspended due to the weather. There is no progress. The construction insurance covers some of the costs. But: In our latitudes, a building owner has to expect frost and snowfall in winter and plan for them.
What is insured in the construction insurance?
A Construction insurance protects builders and companies involved in construction from unforeseen damage. This includes damage during construction due to storms, material defects or vandalism. It bears the costs incurred in removing the damage.
It is a property insurance that, in contrast to a builder’s liability insurance, only insures damage to objects. It can be concluded for new and old buildings alike and is usually limited to 2 years or until the building is completed. The benefits differ depending on the policy taken out. In many cases it covers the following situations:
- Force majeure and natural events such as heavy rain or landslides,
- Unusual weather conditions like heavy snow in spring
- Consequential damage due to construction and material defects,
- Damage to the building material, e.g. B. soaked concrete mix in the shed,
- Sabotage and vandalism such as
- theft from permanently installed objects such as B. Sink.
In the event of damage, construction insurance will help you to repair the damage. The resulting costs for expert reports, material or repair work are then borne by the insurance.
What is not included in the construction insurance?
The following damages are usually included in a Construction insurance not insured:
- Fire damage by fire, lightning or explosion,
- Weather damage from normal weather, z. B. Frost im Winter,
- theft from loose objects,
- Botch in construction,
- insolvency the contractor.
You can insure yourself against fire damage to the building with a fire shell insurance.
Does construction insurance make sense?
Yes, because the weather is an unpredictable factor during the construction phase. Even with the best possible choice of season for the start of construction, freak weather can delay construction and cause damage. The human factor should also not be underestimated: Unauthorized persons with spray cans or thieves can also cause unplanned damage.
However, construction insurance is not enough on its own to protect the construction process. Other insurances, such as fire shell insurance or builder’s liability insurance, are therefore a useful addition to construction insurance.
This is how construction insurance works
They close one Construction insurance at the start of construction from. The price of the insurance depends on the construction cost: First, all cost estimates are added up and used as the basis for the calculation. At the end of construction, the actual costs incurred for the construction costs are collected and transmitted to the insurance company, which then carries out a final invoice.
If the Construction delayed or yourself Change cost items, you have to notify the insurance company immediately. In many cases, late registrations are a difficult basis for claims settlement in a construction insurance company. The more promptly and in more detail you report the damage or change, the easier it will be to grant you full insurance benefits.
When taking out insurance, pay attention to the time window: A construction insurance is usually open 24 months after the start of construction and the groundbreaking ceremony limited. Should the construction z. B. interrupted, this Deadline can be extended upon request. Here too, the application should be submitted as early as possible so that there are no problems in the end.
Which types of insurance do builders absolutely need
With a Construction insurance protect yourself against damage that can occur during construction. However, it is only part of the full insurance coverage for builders. Other parts are the Builder’s liability insurance as well as the Fire shell insurance.
The Builder’s liability insurance protects you against personal injury and other financial claims of other people. In particular in the event of a breach of traffic safety obligations, such as adequate barriers to the building site, you can face large sums if damage occurs.
A Fire shell insurance can often either be taken out individually or, as with GEV insurance, is a free component of homeowners insurance. This secures the shell against fire damage and explosions.
In our Guide to building owner insurance learn more about the best possible insurance protection for building owners.
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