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CONSTRUCTION ALLRISK INSURANCES

  • Construction All Risk Insurance is an insurance that provides financing for the losses that newly constructed buildings may incur as a result of the events they may face during the construction period.

    It is a type of insurance that covers all sudden and unexpected damages that occur on the construction site and are not excluded on the policy.

     

    Mandatory Guarantees
    -All kinds of natural disasters (lightning, thunderstorm, earthquake, frost, storm, waterlogging, flood)
    -Fire
    -Theft
    -Sabotage, aircraft collision
    -Poor workmanship, incompetence, negligence, human errors, theft


    Optional Guarantees
    -Machinery, tools and equipment used for construction, temporary construction sheds and auxiliary structures,
    -Legal liabilities to be incurred by the insured due to damages incurred by third parties,
    -Costs of removal of debris as a result of damage,
    -Transport and overtime wage increases made by means of serial vehicles other than aircraft required by the loss and damages as a result of any damage covered by the guarantee,
    -Maintenance period starting after the completion or provisional acceptance of the construction.

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