For construction site damage Contract works insurance for companies

Protection against construction accidents, theft & vandalism
Work can continue despite construction incidents
Damage location, demolition & reconstruction costs paid
Key points at a glance
  • Worry-free construction: Accidents can happen quickly on construction sites. Contract works insurance covers property damage that can occur at your construction site as well as the theft of property already built into the construction.
  • Comprehensive coverage – for every situation: Even though you are not at fault, you can still incur high costs for damages. For example, if the party at fault cannot be determined.
  • Well insured, from start to finish: Contract works insurance for companies covers all construction and installation services, from the groundbreaking ceremony to when the keys are handed over.

What is contract works insurance? 

Whether you are renovating your company building or constructing a new office building, contract works insurance forms a solid basis for your construction coverage. It covers the building under construction, the building site and all building materials during the planning stage and all stages of construction. It also pays for damages and the consequential costs of unforeseen construction accidents or mishaps that arise due to theft or vandalism.

In the event of a claim or a dispute, the insurance can pay out an advance so that the construction owner capital remains untouched, allowing work to proceed quickly and thus avoiding expensive construction delays.

What does AXA contract works insurance cover?

  • Damage due to construction accidents
  • Advance payment in the event of damage to prevent construction delay
  • Acts of vandalism
  • Theft of property that has already been installed
  • Burglary of loose materials
  • Damage due to fire and natural hazards (depending on the cantonal regulations)
  • Cleanup and disposal costs of insured damage
  • Costs of locating the damage
  • Demolition and reconstruction costs

Who is insured?

Contract works insurance protects the interests of the construction owner. All persons involved in planning the building (such as architects and engineers) and the companies performing the construction are covered.

What additional benefits are available?

Complex construction projects involving large construction sums and many different companies need comprehensive coverage during the entire construction period. This makes it possible to avoid gaps in coverage that would affect the architects, engineers, professional planners and companies involved and could arise if coverage is provided by different carriers. The following insurance add-ons let you enhance your contract works liability coverage:

  • scaffolding, excavation supports, sheet piling and formwork, temporary structures, barracks, billboards and barriers
  • Construction substrate and soil mass
  • Existing structures, property at risk and chattels
  • Construction equipment and tools
  • Drilling for geothermal heat probes
  • Cost of experts
  • Damage from spray painting and graffiti
  • Scratches on surfaces
  • Claims from delayed or interrupted construction work
  • Additional costs incurred from damage
  • Earthquakes

Construction defect coverage for planners

Architects and civil engineers can take out construction defect insurance to avoid any gaps in coverage between their professional liability insurance and contract works liability insurance. This policy provides financial protection if they make a mistake which causes a defect in the building or causes an accident.

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