If you are excavating on a job site, you need to avoid the potential pitfalls – both literally and figuratively. Without the right coverage, the construction owner and construction project planner are primarily liable for all accidents that occur on the construction site, such as for additional costs due to damage to the skeleton frame or liability risk arising from third-party damage.
Construction insurance from AXA covers your construction project and all those involved in it – from start to finish.
Construction projects are time consuming. Years can go by from the start of the planning phase until the project is finally completed – and that's a lot of time when things can go wrong. Every phase of construction has its own risks, which can be insured by including the corresponding add-on to your construction policy.
Contract works insurance, for instance, protects your construction project from the very start of building work for the costs of property damage and theft, construction owner's liability insurance covers liability risks due to third-party claims during the actual time of construction, while construction guarantee insurance provides peace of mind following handover of the construction.
On a construction site, the construction owner is always liable for injuries to any uninvolved persons. If the injured person should become disabled, the costs for paying a lifelong pension can quickly run into the millions – this is when you will thank yourself for having construction owner’s liability insurance.
If your company has AXA building insurance, then construction projects only need to be insured if they are over CHF 100,000 (provided they are not excluded under the GIC, such as new constructions or extensions to the roof or facade). Your building insurance already covers you up to this amount. If the sum insured is higher than this or if the construction project is excluded under the GIC, then you should take out contract works insurance. We also recommend that you review your liability insurance coverage to see what buildings it pays for and up to which construction sums if there is any damage in connection with the construction project, or whether you need to purchase a construction owner’s liability policy as well.