Construction Performance Insurance - Is it necessary?

Hello,

my question relates to the construction all-risk insurance. Is it necessary and how expensive would something like that be. I already have money problems because of building our own home and if I do something like that then I would be broke. Does anyone have experience with insurance of this kind?

Best regards

Hello Anneliese 123,

well, if you are already building a house, you should also value a good insurance. I mean, you can also do without it, but isn't it more sensible to spend a few Euros more than to spend too many Euros in case of damage? It's entirely up to you. I also took out a construction insurance a few months ago. Tailored to my individual needs. It was important to me not to have to cover damages that might occur. Since I'm already in the red anyway, it's more sensible. You can't believe how often a mistake that causes damage can happen. Think it over carefully.

Good luck.

Yes, actually the construction insurance is quite useful. Just for your information: these are examples of damages for which an insurance would provide coverage. In this case, however, it is rather up to you whether you take it out, because it is not a compulsory insurance. Therefore, weigh the pros and cons carefully to make the right decision. Regards

That is always the question, do I have to take out a construction performance insurance? As already stated, it is not a mandatory insurance. However, I consider it important. Damages can always occur and having to pay for them out of your own pocket can be very expensive.

I do not understand, this insurance is not necessary, because if damages occur during construction, the construction company must have insurance for the damages, not the client.

and if the client has deliberately caused some damage, then his own insurance will not pay either.

I don't quite understand the question either. So if the construction company causes damage, it's not my insurance that pays but the company's. Therefore, I find this insurance unnecessary.