Project Description
Construction all risk
Construction all risk
protects you from damage during construction
Every year many new building projects are initiated in Spain, both by construction companies and private owners. It is not unusual that unforeseen circumstances occur which may pose a serious setback.
In Spain the insurance cover applies to the building and for the construction material, as far as it is spatially and objectively related to the construction in progress.
The CAR – insurance covers those costs necessary to put the construction back into the state it was in prior to the incident.
The cover applies mainly for material damages, but also for stolen construction equipment and damages to the building due to weather conditions. In the case of damages through vandalism, the insured has the obligation to proof that the premises were correctly protected and closed off to trespassers.
- Construction plan (Memoria de Obra)
- Estimate of costs (Presupuesto)
Plenty of insurers offer this type of insurance. The conditions tend to be homogenous.
However premiums might vary and it is commendable to have expert insurance brokers scan the market for you.
Basic insurance cover:
- Theft, looting and vandalism
- Construction failures and material defects
- Fire, explosion and lightning damages
- Natural hazards as storm, hail or flooding
- Earth movements (subsidence or landslides)
- Earthquakes, volcanic eruption and seaquakes
- Consequential damages due to material failures or construction failures
- Insured costs: Fire service costs, demolition costs and clearance costs
Optional coverage:
- Construction machinery (i.e. scaffolds, bridges and equipment)
- Damages on existing buildings
- Terrorism
- Business interruption
, more than just standard
At Iberia insurance brokers customers receive an Iberia Service+. But what does that mean? It’s very simple, our customers are worth a lot to us, and so we want to offer our customers more service through the standard insurance service. Service for which no one of our customers has to pay extra or has to conclude an extra contract – just our service for you.
, more than just standard- Selection of insurance from more than 10 different insurance companies
- 24/7 hotline – free – Spain wide
- personal consultation for the customer on spot
- Cost-benefit analysis of the pension schemes with optimization suggestions
- Advice in your language