Construction and Erection Risks
Who is it designed for
This insurance is designed for investors, undertakers, contractors and subcontractors of construction and erection activity.
Subject of the insurance
Cconstruction and erection activity, performed during the construction of a building located on the territory of the Republic of Bulgaria as well as the activities within its release period.
Insurance cover
This insurance covers the following perils:
CLAUSE “A” – BASIC COVER:
- Fire, explosion, implosion, crush and/or fall down of piloted air-craft, its parts and/or cargo, as well as damages, resulting from the action of water, foam or fire extinguishing preparations.
- Damages, caused by internal transport on the construction site, penetration of foreign bodies and other failures.
- Storm (hurricane), torrential rain, flood.
- Damages, resulting from the weight of a natural snow or ice heaping, fall down of avalanche, rise of the sea level (sea waves).
- Landslide or collapse of land strata, occurred by accident and not as a result of wrong analysis or projection.
- Expediently done expenses for cleaning up the site after occurrence of a covered insurance event.
CLAUSE “B”
Third party liability.
CLAUSE “C”
Burglary.
Sum insured
The sum insured is defined in Bulgarian Leva or other currency on the basis of the site’s value.
Insurance premium
The insurance premium is defined according to the rates of HDI Insurance Company depending on the insurance cover and the sum insured.
Validity of the insurance cover - the insurance cover is valid only for the address, written in the policy.
