Construction all risk insurance and erection all risk insurance
Feel completely secure while investing and constructing
Peace of mind while you finish the work you started
Insure yourself against risks that exist during construction or erection of construction facilities and equipment, regardless of whether you are an investor or a contractor.
Protect yourself even in cases when you inadvertently cause damage to third persons during construction. “DDOR Novi Sad” offers a combined program of construction and erection all risks insurance which enables you peace of mind while you finish the work you started.
Complete protection package
This insurance program designed by “DDOR Novi Sad” represents your combined protection package: by writing construction and erection all risks insurance, you will have insured every item which enters the preliminary value of the facility: all materials and all works, equipment and auxiliary facilities for project realization, machines, devices and installations which are erected. Insurance coverage may also be arranged for: existing facilities being reconstructed, expanded, auxiliary facilities, tools and kits, workers’ property.
This policy provides coverage of all “fire” and technical risks, namely: fire and thunder strike, explosion, storm, hail, manifestations and demonstrations, avalanche, flood, torrent and high water, landslide, equipment breakdown, and construction/erection accident.
Insurance protection covers accidents such as: errors in construction, equipment breakdown or deformation, design errors, errors in dimensioning and selecting materials, damage during a test drive.
You can also arrange third person liability insurance. This means that insurance will indemnify third persons, and provide legal protection in case legal action is initiated against you, without slowing down investment activities.
Insurance will be in force during works, test drives, and the warranty period.
Damages whose causes date back to the construction period, with delayed manifestation, will also be indemnified during the warranty period.
- „DDOR Novi Sad” will indemnify up to 3% of the sum insured for clearing up debris and demolition which results from an insured damage, and up to 1% of the sum insured for preparing the necessary technical documentation before rehabilitation of damage.
- In the warranty period, we will reimburse you and your clients for all damage caused during the period of construction or erection, which was not manifested immediately!
What you need to know
- Your investment is insured at the sum insured which should equal the preliminary value of the project.
- Reduction of indemnity pertains only to the value of the remains. If the value has been correctly determined and equals the sum insured, the indemnity will equal the damage sustained.
- The prices of works and materials at the moment of damage will serve as the basis for indemnity, unless they have risen by more than 10% in relation to the day of writing insurance.