Ask for advice from our underwriter,
Cristian Vallecillo
cvallecillo@segurosorion.cl
All Risk Construction
All Risk Construction
Construction and building all-risk insurance insures all kinds of engineering work; including, among others, the construction of buildings and houses, refurbishment and development, from the beginning of the work to the provisional receipt by the owner. It covers any damage than can occur accidentally or unexpectedly during the execution of the same work; in addition, it can be incorporated into the coverage for third-party damage.
Coverage
Coverage
- Acts of God
- Damage inherent to construction
- External risks
We require the following information, to make you a quote:
• Name and Taxpayer ID number of contractor.
• Name and Taxpayer ID number of client.
• Work information (description of the type of project, address, etc.).
• Name and Taxpayer ID number of client.
• Work information (description of the type of project, address, etc.).
• Term (from DD-MM-YYYY through DD-MM-YYYY).
• Insured sum = Work amount.
• Insured sum = Work amount.
We might also ask for an estimate and a Gantt Chart, as well as other items, based on the characteristics of the project. Download our questionnaire here.
We require the following information, to make you a quote:
• Name and Taxpayer ID number of contractor.
• Name and Taxpayer ID number of client.
• Work information (description of the type of project, address, etc.).
• Term (from DD-MM-YYYY through DD-MM-YYYY).
• Insured sum = Work amount.
• Name and Taxpayer ID number of client.
• Work information (description of the type of project, address, etc.).
• Term (from DD-MM-YYYY through DD-MM-YYYY).
• Insured sum = Work amount.
We might also ask for an estimate and a Gantt Chart, as well as other items, based on the characteristics of the project. Download our questionnaire here.
• Acts of God (earthquakes, floods, landslides, among others).
• Damage inherent to construction (materials, labor, among others).
• Damage inherent to construction (materials, labor, among others).
• External factors (burglary, political risks, among others).
• Possibility to complementarily include liability coverage.
• Possibility to complementarily include liability coverage.
• Acts of God (earthquakes, floods, landslides, among others).
• Damage inherent to construction (materials, labor, among others).
• External factors (burglary, political risks, among others).
• Possibility to complementarily include liability coverage.
• Damage inherent to construction (materials, labor, among others).
• External factors (burglary, political risks, among others).
• Possibility to complementarily include liability coverage.
Why is All Risk Construction Insurance necessary?
The construction industry is exposed to a wide range of risks, given the complexity of the activities performed, the variety of tasks, and the exposure to external agents; including acts of God, burglary, etc. Therefore, it is highly important for the protection of the invested capital.
What are the advantages of purchasing All Risk Construction Insurance?
Construction all-risk insurance provides protection against the unforeseeable risks that are inherent to various construction works, and thus may mitigate repair costs that might have a significant impact on budget. It provides “all-risk” coverage for a wide range of projects and provides defense against third-party claims for potential damage.
Contractors and/or owners (clients) who require coverage for construction, civil engineering and/or building works.
Yes. However, an analysis of the specific case is still required, and the coverage shall only begin in the month the contract is issued.
Yes. When the construction work is financed by a bank, the bank usually requires that it be included as a beneficiary, so that, in the event of loss, it can recover its investment.
