Fully comprehensive construction and assembly insurance

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What makes our Fully comprehensive construction and assembly insurance different

Fully comprehensive construction and assembly insurance offers you protection against any loss or damage arising from works that you are executing, whether you are a builder, contractor, property owner or a developer.

Expert brokers

We have personnel who specialise in this type of insurance and will advise you on contracting the policy that best meets your company's needs.

Extensive coverage

From conventional risks, such as fire, atmospheric phenomena or theft, to those specific to construction, such as risks originating from design errors and defective materials or workmanship.

Complete protection

We guarantee any damage arising in ongoing construction work, in completed work or to materials on-site, so that your company can carry out its activity with no worries.

What does Fully comprehensive construction and assembly insurance cover

We cover any damage caused by fire, explosion, lightning, theft and robbery, falling aircraft, vehicle collision and other impacts.

This coverage protects you from any damage caused by atmospheric and natural phenomena, such as hurricanes, snow, ice, meltwater, rain, gales, floods, avalanches, earthquakes, volcanic activity or sea storms, provided that they are of an extraordinary nature in the location of the site.

We guarantee any damage caused by design errors or defects in materials and workmanship during the execution of the work, excluding the insured party's own fault.

Miscellaneous expenses, including those for demolition and removal of debris, fire fighting, overtime or urgent shipments.
Damage sustained by items other than the building itself, such as plant or machinery used by the party insured or pre-existing items or property adjacent to the building site.
Acts of a political or social nature, such as strikes, riots and civil unrest.
Extra-contractual civil liability of the parties insured.
Employers' civil liability and cross liability.
Damage suffered by the building during the agreed maintenance period after completion.
ALOP coverage, protecting you against the advance loss of profits as a result of delayed operations for causes covered in the insurance contract.

FAQs

This insurance is aimed at builders, contractors and property developers or owners and machinery or industrial installation assemblers.

The Fully comprehensive construction and assembly insurance guarantees the coverage of loss or damage sustained during the construction of the insured works. At Occident, you can insure a wide range of works, whether construction or civil works.

There are some construction-related insurance policies that are compulsory, such as ten-year insurance or bargaining agreement accident insurance. Others are compulsory in some autonomous regions, such as professional civil liability; and others are voluntary, such as fully comprehensive construction and assembly insurance.

Although the latter is not compulsory, it is highly recommended, as it covers any material damage or loss, due to an accident or unforeseen event, affecting construction work on buildings and civil engineering work, in ongoing and temporary projects which have been completed or are still in progress, plus on-site materials.

Practically any type of building work, assembly or installation can be insured, both new build and renovations:

Urban sector: homes, offices, infrastructure and other buildings (health, shopping centres, hospitality, etc.)
Industrial sector: industrial units, factories, power plants, etc.
Infrastructure: roads, urban streets, bridges, ports, airports, etc.
Assembly/installation: boilers, telephone exchanges, alarms, industrial machines, air-conditioning installations, solar parks, electrical installations, etc.

The validity of the policy is determined by the duration of the construction and assembly work. Coverage runs from the beginning of work until it is completed and handed over to the developer/owner (with the issuance of the Final Completion Certificate and, where applicable, the Works Acceptance Report).

If the works are completed after the planned date, you must request the insurer to extend the contract.

FAQs

Fully comprehensive construction and assembly insurance

What makes our Fully comprehensive construction and assembly insurance different

Expert brokers

Extensive coverage

Complete protection

What does Fully comprehensive construction and assembly insurance cover

Conventional risks

Natural phenomena

Risks inherent to assembly work

Complementary guarantees

FAQs

Who is this insurance for?

Why do I need this construction insurance for my company?

Is it compulsory to take out Fully comprehensive construction and assembly insurance?

What type of risk can you insure against?

What is the duration of a Fully comprehensive construction and assembly policy?

Consult documentation

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