Construction - Construction works insurance

MoneyPark property advise

Independent and transparent advice in one of our more than 20 branches.

Request advice

Construction - Construction works insurance

Building insurance only covers finished properties; but keep in mind that all finished structures are very likely to be renovated at least once, or perhaps converted or expanded. Each construction phase brings its own dangers. Construction and construction works insurance is meant to cover such dangers.

Taken out by the home-builder, construction insurance covers fire risk. Like in building insurance, the canton of Vaud exercises a monopoly over it through ECA.

For new constructions, the three other principal risks, that is, water damage, theft and glass breakage, pose no or little danger.

Construction works insurance, also called construction risk insurance, is a type of ‘comprehensive’ insurance. It covers damage to property under construction (deterioration or destruction) due to unpredictable accidents or other irregularities occurred during the construction.

First and foremost, this insurance protects the home-builder. In case of accident, the insurer covers their financial needs so that what has been destroyed/damaged can be reconstructed/repaired to the condition prior to the accident.

Entrepreneurs and companies entrusted with the construction are also included. The risks can result from the architect or the engineer’s planning and calculation errors (slab collapse due to overload), acts of vandalism, landslide, etc.

Current mortgage rates

Libor mortgage from

%

Fixed-rate 10 years from

1.81 %

Fixed-rate 5 years from

1.12 %

The displayed interest rates are the best rates currently available. Your personal interest rates may vary depending on LTV, affordability, mortgage amount and the location of the property.

Your personal rates

Branches in AarauBadenBaselBerneBulleChurFribourgGenevaLausanneLuganoMorgesNeuchâtelNyonOltenPfäffikon (SZ)SchaffhausenSt. GallenSurseeVeveyVolketswilWinterthurZugZurich