Insurance Agreement

Builders Risk Insurance (COC) Course of Construction

We cover for any unforeseen event during the whole construction process. Builders’ risk insurance, also known as Course of Construction (COC) insurance, or sometimes construction risk insurance, is insurance coverage for buildings and other structures while they are under construction.

Specifically, they are guarantees that allow us to cover:

– Construction materials

– Foundations

– Temporary structures such as scaffolding.

– Paving, fences, outdoor accessories

– Lawns, trees and plants installed by the builder.

– Everything related to the continent, including gardens and spare spaces.

Our guarantees cover:

– New residential construction

– Residential Remodeling

– Construction of commercial buildings, warehouses and large surfaces.

All-risk construction insurance

The all-risk construction insurance covers the material damage and losses suffered by the insured goods and interests that are in the process of construction or assembly, which occur in an accidental, sudden and unforeseen way.

The raison d’être of the all risk construction insurance is to cover all the damage or material losses of the building site when it is the consequence of an accident. Includes civil works and installations (cost of material and labour), due to fire, explosion, lightning, theft and spoliation, risks of force majeure or nature (whose occurrence and intensity is not predictable at the site of the work and time of year) and dangers inherent in the execution of the work.

All risk construction (integral coverage for construction works), All risk assembly (all-risk content for assembly works of equipment, machines.) and contractor’s equipment (protection for machines and equipment used in construction).

Ten-year insurance

The ten-year insurance policy covers damage to the structural elements of the building (foundations and structure) that endangers its mechanical resistance and stability, whether due to defects or faults, during the ten years following completion of the work.

Civil liability and accident insurance

Liability and accident insurance is a type of insurance that provides liability protection for companies in the event of personal injury or property damage during the course of construction. It involves employees and third parties.

Liability insurance policies will cover a wide range of damages, including

– Defective quality

– Work-related injuries.

– Publicity of injuries/defamation and plagiarism of projects.

Refund of Advances on Property Development

Buyers/Insured are guaranteed the return of the advances they pay to the developer while the homes are being built. The company will compensate the insured party if the homes are not delivered, and the developer does not return the advances.

Guarantee insurance

To guarantee the fulfilment of legal or contractual obligations, we have insurance that covers the non-fulfilment of the construction contract. The types of coverage include bid maintenance, contract execution, financial advances, replacement of repair funds and others.

For more information, you can contact our Insurance Broker directly through this form