Construction works insurance
Collapse, storms, theft of installed materials: during the works, construction works insurance protects the structure itself, from excavation to acceptance.
Two minutes is all it takes: tell us who you are and what needs covering. We come back with compared quotes.
The essentials
On a construction site, the structure being built is generally covered neither by ordinary building insurance, which starts at acceptance, nor by liability insurance, which is aimed at third parties. Construction works insurance compensates damage suffered by the structure itself: collapse, subsidence, water damage, storms, theft of materials already installed.
It also applies to conversions and renovations: an extension then covers damage caused to the existing building by the works, a risk often greater than the cost of the project itself. In practice, the building owner takes it out on behalf of everyone involved; the works contract, often based on the SIA 118 standard, may assign this task to the general contractor.
Cover runs from the opening of the site to acceptance of the works, with a possible extension through the warranty period. The policy is concluded before ground is broken, based on the total construction cost. We obtain quotes from several insurers and adjust the sum insured to your actual project, not to a flat package.
What this insurance covers
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Damage to the structure
Collapse, subsidence, breakage or sudden damage during the works: reinstatement of the affected part of the structure is covered.
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Storms and natural hazards
A storm tears off the newly erected roof frame, torrential rain floods the excavation: damage suffered by the site is compensated.
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Theft of installed materials
Materials and components already incorporated into the structure, building services, sheet-metal work, cabling, are covered against theft on site; materials merely stored on site require an extension to be agreed.
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Conversion and renovation
For works on an occupied or older building, the existing-structure extension covers damage caused to the existing building: underpinning, drilled openings, water damage spreading through the floors.
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Consequential costs
Debris removal, locating the damage, emergency measures to prevent it worsening: these costs are added to the indemnity under the agreed cover.
Who it is for
- Private building owners constructing a villa or converting their house.
- Developers, cooperatives and property companies managing a construction project.
- General and total contractors entrusted with insuring the site under the contract.
- Owners renovating an occupied building or adding storeys to an existing one.
- Condominium owners’ associations (PPE) undertaking major works.
How we support you
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Analysing your risks
What you have, what is missing, what overlaps: an honest assessment.
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Competitive tenders
Several insurers approached against a precise specification, compared item by item.
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Long-term follow-up
Set-up, renewals, claims: a single point of contact, year after year.
Frequently asked questions
Who takes out construction works insurance: the building owner or the contractor?
Most often, the building owner concludes a single policy on behalf of everyone involved: architects, engineers, contractors. One cover for the entire site avoids both gaps and double insurance. The works contract may, however, assign this task to the general contractor, the point should be clarified in writing before the site opens.
How does it differ from building owner’s liability insurance?
They address two distinct risks. Construction works insurance repairs what happens to the structure; building owner’s liability covers what the site causes to third parties, cracks in the neighbour’s house, an injured passer-by, a damaged public pipe. On most projects, both are needed.
Is a renovation or conversion covered?
Yes, and that is often where it is most useful. The existing-structure extension covers damage the works cause to the existing building: a badly controlled opening or a water leak can cost far more than the project itself, especially in an occupied building. The value of the existing building must be declared correctly when the policy is concluded.
When does cover start and when does it end?
It starts when the site opens and in principle ends at acceptance of the works, when building insurance takes over. The policy is concluded before the works begin, ideally as soon as the contract is awarded. If the project runs late, notify the insurer; an extension through the warranty period can also be agreed.
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Jules Rossier, non-tied insurance intermediary within the meaning of Art. 45 of the Insurance Supervision Act (ISA), registered with FINMA under no. F01581788.