Construction all-risk insurance
The construction all-risk insurance product helps all parties to construction contracts – the client, main contractor and subcontractors – manage their risks.
Companies operating in the diverse construction sector require more detailed risk management solutions.
Every construction or assembly project is different and performed in a different environment and under different natural conditions. Even with excellent risk management, it is not possible to anticipate all potential risks that may lead to damage.
With construction all-risk insurance, you are able to insure construction and assembly work from the moment of commencement of the work until the delivery of the finished object to the client. Since construction companies are generally obliged to perform maintenance work and repair any identified construction defects for several years after the delivery of the object, it is possible to extend the insurance cover for the maintenance period.
The construction all-risk insurance cover is an integrated insurance solution that consists of property insurance and liability insurance.
Property insurance allows you to insure construction and assembly work, the construction materials used for performing the work, any equipment and devices being assembled, construction machines, construction tools, and the fittings on the construction site.
An insured event means the destruction of, damage to, or loss of the insured object at the place of insurance due to an unexpected and unforeseeable event during the validity of the insurance cover due to a reason that is not precluded in the insurance terms and conditions. Insured events are, for example, a fire, storm, malicious actions of third parties, or damage caused due to the inferior quality of construction materials or inadequate construction work.
Liability insurance allows you to insure the obligation to compensate proprietary damage and/or personal injury caused to a third person during the performance of construction or assembly work due to the acts or omissions of the insured person.
PZU is AB "Lietuvos draudimas" Estonian Branch trademark in Estonia. AB "Lietuvos draudimas" is Lithuanian insurance company, that is part of the international PZU Group. Before entering into an insurance contract, please examine the terms and conditions or dial +372 622 4599 for additional information.