Currently, insurance has become a popular service among Russians. You can insure almost everything. Moreover, in each area this service has its own characteristics. Insurance of construction risks must be issued during the construction of facilities. This service protects against various risks that may appear during operation, repair, reconstruction.
Why is the service needed?
The construction area is considered a high risk area. Unfortunately, accidents often occur during these activities. Moreover, they are observed when performing different types of work.
Accidents occur in all countries, only in some of them insurance of construction risks is mandatory. In Russia, it is voluntary. Reasonable owners of construction companies realize that it is better to add interest for insurance to the estimate than to pay a lot of funds from their reserves when an insured event occurs. Thanks to this service, warranties appear.
Insurance Features
When a transaction between the two parties is concluded, an insurance contract for construction risks is issued. The document includes information on the participants in the construction business: the customer, the general contractor and the court contractor.
The contract outlines the rights and obligations of the parties. Typically, the policyholder is the general contractor, who is considered to be the materially responsible person upon delivery of the object to the customer.
Insurance Objects
In the construction of any object, insurance of construction risks is necessary. The law indicates that the object is property that is necessary for construction and installation works, and located on the construction site. It concerns:
- SMR products;
- equipment;
- buildings and structures;
- belt objects;
- installation of hardware.
Insurance period
This question is very important, as it defines a lot. The company usually provides insurance coverage for almost the entire construction period from the moment equipment and materials are unloaded until the object is completed.
The concept of insurance risks
Insurance coverage provides protection against all risks. This service allows the policyholder to protect property from dangerous situations, as well as from:
- incorrect calculations of designers;
- inappropriate staff attitude;
- the use of low-quality materials;
- effects of electric current;
- mechanical damage.
Insurance risks can be any. These are situations that harm people or objects. The insurance is the amount arising by agreement of the company and the insured. It includes the amount of funds for facilities and installation.
Risk types
Insurance of construction risks is of the following types:
- "Turnkey": in this case, the general contractor takes responsibility for the delivery of materials, construction, equipment health;
- “Supply control”: responsibility for the work lies with the customer, and the general contractor organizes and controls the entire process.
Voluntary insurance of construction risks involves compensation for the following risks:
- damage or loss of construction and installation, equipment;
- falling blocks;
- soil subsidence;
- weather change;
- mistakes of employees in carrying out activities;
- intentional actions of others.
Insurance of construction risks is carried out from various phenomena. They must be indicated in the contract. The company is responsible for every violation.
Sum insured
In each case, the calculation of the amount of risk occurs individually. The characteristics of the project are taken into account. Amounts are affected by exposure to risks, features of objects. Such factors include methods for the implementation of construction and installation work, the availability of documentation, a master plan.
Insurance amounts are calculated on the basis of estimates for the facility, work schedule, contractual agreement. The tariff is set on the basis of the type of risk set object, the experience of the developer, the location of the construction territory.
Terms of an agreement
The contract should include all insurance objects - property, interest. Description should be detailed. The document contains the characteristics covered by the policy. The contract should include all risks that may relate to different objects.
An agreement is necessary to protect against various types of hazardous situations. Comprehensive insurance of construction and installation risks involves the inclusion of several situations in the contract, due to which compensation occurs.
The territory of coverage is called a construction site, access roads, a site for the placement of materials. Coverage for liability risks is limited or unlimited. In the latter case, it should be written in the document that the situations of harm to others are taken into account during construction. In the first embodiment, the insurance event is the damage in the designated area. The duration of the contract is determined by the decision of the participants and may be equal to the construction period.
A popular shortcoming is the designation in the documents of the start of construction activities when the paper takes effect. The agreement is valid from the moment of conclusion or transfer of the insurance premium. Payments can be made one-time or in installments. When the installment is not paid on time, the document may be invalid. Comprehensive insurance allows you to compensate for losses caused due to dangerous situations.
