Questions about builder insurance

We informed the insurance about the move-in date approximately two weeks before our move-in. Subsequently, the insurance converted our construction insurance into residential building insurance in accordance with the move-in date.

I would never want to do without the natural hazard insurance. We had a case a few weeks ago during a severe storm where rainwater entered the basement. Only because of the natural hazard insurance did the insurance cover the damage (completely).

Is the construction performance insurance worth it? What does it actually insure? All trades I have already accepted and paid for, what happens to them if it rains heavily or a teenager paints on my wall?

Is the construction performance insurance worth it? What exactly does it insure? All the trades I have already accepted and paid for — what happens to them if it rains heavily or a teenager paints on my wall?

**Construction performance insurance (also construction insurance)

The construction performance insurance is an absolutely important basic coverage for every builder. Construction sites are very hazardous and many accidents in the past prove this as well. Additionally, there is a variety of damages covered by construction insurance. Parts of the building can be destroyed by storms, and you only have limited protection against burglars for the things already installed. You cannot protect yourself against vandalism because the shell is unoccupied. The construction insurance reimburses you for any resulting damages in every case. A financially significant damage can threaten the entire building and its completion for many builders. Before you start building your house, you are protected from damages with construction insurance, and this is something every builder is strongly advised to have.


**Source: my homepage

Rhenish greetings

The builder's liability insurance clearly protects against hazards on the construction site - that is a must. Not every construction all-risk insurance covers theft, as I have seen. I will call the insurance broker tomorrow and ask him what he can offer.

The builder's liability insurance protects against dangers on the construction site - that is clear, it is a must.

But not against all dangers!

Simply put, the builder's liability insurance covers "life" and the construction all-risk insurance covers "theft" and "adverse weather conditions." Have your insurance broker explain it to you in detail, but do not forgo either one of the two insurances.

Rhenish greetings

Hello,

I also think that both a builder's liability insurance and a construction all-risk insurance are an absolute must.

However, comparing different providers is well worth it - if you are building with a large provider, you should also inquire there. For example, our house provider has a cooperation with a large insurance company - which saved us nearly 50% on both insurances.

Regards,

Dirk