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Construction and Installation Risks Insurance in Bulgaria

Construction and Installation Risks Insurance in Bulgaria

An insurance product which provides protection against material damages of buildings, industrial and infrastructural sites which are under construction or in the process of repairing.

Insured persons can be all participants in the construction process:

  • development companies – main contractors or/and subcontractors
  • investors – especially foreign investors for whom this insurance is compulsory
  • creditors – this way banks guarantee their money
  • manufacturers and/or suppliers of machinery/equipment

Insurance cover:

  • fire, explosion, lightning, aircraft crash, parts or cargo therefrom, as well as damages from water, foam or fire extinguishing compounds
  • storm, torrential rain, flooding
  • damage from pressure from natural drifts of snow and ice, freezing, avalanches, rise in the sea level (sea waves)
  • earthquake, landslides or rock slides, subsiding of the earth
  • robbery
  • malicious act of third parties (vandalism)
  • mistakes during the construction and installation due to lack of skill or negligence
  • full loss or partial damage to the construction materials, equipment or building machinery during their transportation with own transportation vehicles to the site, their temporary storage there, as well as during their assembling and disassembling as a result of the abovementioned risks, excluding theft or as a result of a road traffic accident
  • damages resulting from accidents during use of lifting equipment, from falling objects or collision /falling/ of self-propelled construction machinery; all other accidental, sudden and unforeseen events, except general and special exceptions to the general conditions
  • the third party liability of the Policyholder regarding material and non-material damages caused by third parties during the execution of the construction and installation works. The Policyholder and all their employees shall not be considered third parties under this coverage.

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