Optional Insurance for Construction and Assembly Works

This type of insurance provides comprehensive coverage during the execution of construction and assembly works for buildings, bridges, roads, pipelines, tunnels, dams, reservoirs, certain civil structures, equipment, and machinery. The insured object will be covered for any unforeseen situations in case of damages or destruction during the construction and assembly works. Additionally, the equipment and machinery used on the construction site can also be insured.
Construction and assembly insurance can be essential to minimize the financial risks associated with a construction project, offering protection against unforeseen events that could affect its progress.

”MOLDASIG” offers its clients construction and assembly insurance with comprehensive coverage for the following insured risks:

• Construction and assembly works;
• Construction materials and components;
• Machinery and equipment used on-site;
• Temporary buildings and structures;
• Civil liability towards third parties.

Additionally, civil liability for damage to third parties and guarantees after the insured object is handed over for operation can be insured.
 

• Fires and explosions: Covers damages caused by fires or explosions that can destroy materials or structures under construction.
• Earthquakes: Damages caused by earthquakes that may affect ongoing construction.
• Natural phenomena: storms, lightning strikes, whirlwinds, hurricanes, tornadoes, floods, underground water appearance, water overflow, ice movement, hail, icing, heavy snowfalls: Covers damage caused by extreme weather conditions, which can harm construction materials or the structure itself.
• Landslides: If the construction site suffers from landslides, the insurance can cover the damages to the construction.
• Water damage.
• External actions.
• Illegal actions by third parties: burglary, theft, robbery, unauthorized entry, damage, or destruction of the insured property or its parts.
• Breaking of glass: windows, display cases, and similar installations.
• Assembly errors.
• Risk of civil liability towards third parties.
• Costs for cleaning the site after an insured event.

Third-Party Liability Insurance

During construction and assembly works, this insurance provides coverage for damages caused to the property, health, and lives of third parties not involved in the construction process.
Third-party liability insurance can only be contracted together with construction and assembly works insurance.

If necessary, the insurance coverage can include specific risks for a particular construction contract. There are many supplements that can optimize the coverage by identifying specific risks (e.g., underground works)