What does the all risks building site insurance cover?
The construction site risk insurance is underwritten by the client in addition to the property damage guarantee. This warranty covers the material damage to the site and all that is intended to be an integral part of the final work. In addition, the scaffolding necessary for the execution of the construction works, equipment and tools, construction sites, plans, specifications, technical, administrative and accounting documents will also be guaranteed. In other words are covered the book itself, but also the materials on site against: flights or flight attempts; natural disasters ; collapses; fires; explosions. In the event of a claim, the indemnification is carried out without prior search for liability on the part of the insurers, which avoids disagreements during project implementation.
Coverage and duration of the All Risks Warranty
works from the opening of the site; materials and equipment from their arrival on the site. This construction insurance guarantee takes effect from the date of the declaration of opening of the construction site until the date of reception of the works ie during the period of construction strictly speaking. In other words, this policy covers works in progress.
When to buy a TRC insurance?
The all risk insurance site must be subscribed no later than 60 days after the date of opening of the site.
What are the additional insurance policies for the all-risk construction site?
Non-Director Manufacturer Warranty (CNR); Civil Liability of the Master Work (RCMO); Intangible Damage Guarantee; Perfect Completion Guarantee (GPA); Decennial Manufacturers’ Liability (RCD); Biennial guarantee.
To conclude on the construction site insurance Although the builders are responsible for the damages suffered by the work being built (article 1788 of the civil code). But given the risks associated with the construction, the multiplicity of stakeholders, entanglement of responsibilities in case of disaster the owner may encounter difficulties in the exercise of its remedies. In short, by a fast financing the insurance all risks site makes it possible not to block the building site.