Construction projects are exposed to specific risks associated either to technical, technological, legal or financial fields, as well as general risks as extreme natural phenomena or calamities. Moreover, the year 2023 is expected to be one full of challenges, with a significant impact on the global economy, which will, of course, also affect the Romanian economy, respectively the construction market.
The right insurance is the tool to help you have business continuity in difficult times, in a sector that in addition to the risks that construction projects are exposed to, is lately experiencing, price increases, lower credit values and uncertainty, compounded by. In such unforeseen situations Groupama is the partner you can rely on for the financial support offered through the insurance policies specific to the construction field and beyond.
If you have a construction-assembly company, with the All-Risk Insurance for the Builder’s Machinery and Equipment (CPM) you can cover your unforeseen events regarding construction machinery (cranes, earthmoving machinery, compaction machinery, compressors, generators, transformers etc.), but also the specific equipment against the risks that may appear on the construction site. Being insured, you can receive compensation for any unforeseen event occurring to functional and operational equipment and machinery:
- incorrect operation
- natural disasters such as storms, hail, floods, floods, landslides, earthquakes and volcanic eruptions
- fire, lightning and explosion
- theft by burglary or acts of robbery, but also the damage caused to the machine as a result of these acts
- collisions, overturns, derailments
Additional reasons to cover your business through an insurance policy:
- the risks are covered regardless of whether the insured goods are in operation or at rest and even if they are used by third parties
- the insurance is valid anywhere on the territory of Romania, for 12 months, without the insured having the obligation to provide information about the location where he is working at a given time.
- you can customize your insurance according to the specifics of the activity
- the stability and predictability that insurance offers through the financial support provided in the event of an insured event
If you’re a contractor, you’ll find the extremely useful the All-Risk Builder’s Liability Insurance, which covers property damage and builder’s liability related to the work you’re carrying out,. Construction-assembly or rehabilitation works can be provided for any type of civil objectives, such as residential, office buildings, industrial constructions, road and railway infrastructure projects, as well as the construction of sports bases, places of worship, works on electricity, telecommunications, water or gas supply and sewerage networks.
Being an all-risks insurance, a multitude of problems that may arise in the implementation of construction-assembly projects and in the exercise of the profession can be covered:
- causing material damage to construction-installation projects in execution
- damages caused to third parties (bodily injuries and/or material damage), in direct connection with the assembly construction works carried out on the site or in its immediate vicinity
- damage to equipment, machines
- expenses for cleaning the place or removing the debris as a result of a damage
- expenses for limiting or reducing damages, including those related to the intervention of firefighters to extinguish fires
- civil engineering works
- assets of the beneficiary in the custody of the contractor
- court costs incurred by the insured and the injured third party in the civil process in connection with the payment of compensation
Also, if you provide professional services regarding the activities of: architecture, engineering, expertise and technical verification of projects, supervision, coordination or technical assistance, design, development of documentation, specifications, studies and solutions in the field of construction, you can insure against any monetary losses you may incur due to errors or professional mistakes. The professional civil liability insurance of architects and engineers in the field of construction covers the damages you have caused through the exercise of the profession, to clients with whom you have concluded a written contract for the provision of services, as a result of acts committed through fault, omission, negligence or error and for which you become liable under that contract, the law and the Code of Ethical and Professional Conduct.
Even if unpleasant events cannot be completely prevented, being, in fact, unpredictable by their nature, you can organize things so that both the company and the employees have financial support in the event of these accidents.
People represent the most important capital of a company. Personal insurance, as an additional benefit to salary rights, is the tool by which the company, regardless of its size, provides the necessary support and financial support to employees and their families, in the less pleasant moments of life. With Health Insurance – hospitalization and surgery for employees you can help your team cover medical expenses that may arise as a result of an accident or illness and even relapse after a first event, regardless of whether the medical services are provided in a hospital state or private, in the country or abroad. Group life insurance provides financial protection to employees in the unfortunate event that accidents occur that lead to hospitalization and medical interventions, temporary incapacity for work or even death.
With the right insurance, builders can focus on growing their business, leaving the risks to the insurance company.
Take the step towards an insured future and ask for an insurance quote.
For additional information, you can consult the virtual assistant Amelie (24/7) on groupama.ro, you can write to relatii.clienti@groupama.ro, you can call AloGroupama 0374.110.110 (Monday – Friday, between 8:00 – 18:00) or contact the Groupama network of sellers and partners.