Construction and Erection Risks Insurance (CAR/EAR), including liability
Construction and erection risks insurance provides comprehensive protection against damage, injury, destruction or loss incurred in connection with construction or erection activities during the construction period and covers damage by fire, natural hazards or theft.
Construction and erection risks insurance may also include liability insurance for damage incurred by another person caused by one of the insured in connection with the construction or erection of construction work on a construction site or in its immediate vicinity.
Subject of construction and erection risks insurance
The insurance covers a construction or erection work constructed in accordance with valid legislation on the basis of approved project documentation including the relevant material to be included in the insured construction work and is deposited at the place of insurance.
If a construction or assembly work is insured, it’s also possible to insure the construction site equipment used for constructing the insured construction work, construction and erection machines, tools and instruments used for constructing the insured construction work, existing property in case of damage caused in direct relation to constructing the insured construction work.
The insured in the construction and erection risks insurance are both the client and the contractor of the insured construction work, listed in the work contract, and the contractor’s subcontractors, whose supplies are included in the sum insured and form part of the insured construction work and have the appropriate authorisation to perform the agreed activities.
The place of construction and erection risks insurance is the place designated by the project documentation as a construction site or the place of erection of the construction being constructed.
Liability insurance is supplementary insurance taken out in the case of the insured’s liability for damage incurred by another party stipulated by law in case of…
- Damaged, destroyed or lost movable and immovable tangible property
- Health or death and non-material damage consisting in the mental suffering of a close person in damage to health or death of the injured party
- Subsequent financial damage or loss