Property and inheritance insurance

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Construction / construction works insurance

Building insurance only covers finished properties; but keep in mind that all finished structures are very likely to be renovated at least once, or perhaps converted or expanded. Each construction phase brings its own dangers. Construction and construction works insurance is meant to cover such dangers.

Taken out by the home-builder, construction insurance covers fire risk. Like in building insurance, the canton of Vaud exercises a monopoly over it through ECA.

For new constructions, the three other principal risks, that is, water damage, theft and glass breakage, pose no or little danger.

Construction works insurance, also called construction risk insurance, is a type of ‘comprehensive’ insurance. It covers damage to property under construction (deterioration or destruction) due to unpredictable accidents or other irregularities occurred during the construction.

First and foremost, this insurance protects the home-builder. In case of accident, the insurer covers their financial needs so that what has been destroyed/damaged can be reconstructed/repaired to the condition prior to the accident.

Entrepreneurs and companies entrusted with the construction are also included. The risks can result from the architect or the engineer’s planning and calculation errors (slab collapse due to overload), acts of vandalism, landslide, etc.

Other property and inheritance insurance