The construction of the house very often consumes savings of life, often supported by a loan for several dozen years. In addition, the implementation of the project lasts many months. That is why it is worth securing your belongings for the time of building a house. To this end, a contract should be concluded with the insurance company. What includes home construction insurance?
House insurance under construction is voluntary. However, it may happen that the bank that grants us a loan for the construction of a house will require such collateral and assignment to the bank for credit, because the building during implementation is not a solid collateral for it. The basic policy is not very expensive, but its range is also small. Remember, however, that we can always expand it.
The subject of insurance is a house under construction, i.e. both a newly erected building, as well as an expanded or built -in building. Basic house insurance under construction usually includes walls and other permanent elements of the erected structure, e.g. foundations and roof. It happens that we can expand them with other equipment, e.g. floors, sanitary fittings, window sills, plasters, tiles, window and door joinery or installations. However, the condition in this case is the completion of the closed raw state. We can also protect other facilities on the plot, including outbuildings, fence, swimming pool and gazebo. Insurers rarely want to cover building materials and equipment on the construction site – but some societies offer such a possibility. Of course, the materials must be protected against theft, e.g. closed in the utility room. We conclude a writing contract with an insurance company. The scope of protection is different in various insurance companies, so before signing, let’s carefully read the insurance conditions. In general insurance conditions (GTC) includes typical random events that include protection. By default, each policy is: fire, lightning strike, hurricane, landslides or a fall of a spacecraft. An additional option is protection in the event of flooding, naval rain or vandalism. Usually, the scope of protection is excluded for the soaking of rainwater and damages resulting from unlawful procedure. Importantly, the building is a house under construction since the start of the so -called preparatory or construction works documented by an entry in the construction log until receipt of the use permit.
Most often, the insurance period is 12 months, but after this time you can extend the policy. When the investment is completed during the policy, we can transform the home insurance contract in building a single -family house insurance. In this case, we can expand the claims.
We can insure the house before theft, only when the raw state is completed, i.e. windows and doors will be installed. This is necessary to make access to the building to unwanted people. In addition, an insurance company may require the installation of anti -burglary security, e.g. anti -burglary doors (of course they must have approval). The door should be full. If they have glazing, they should be secured so that the input or opening of the lock is impossible by a broken glass. Glazed doors made of tempered glass with a minimum p3 burglary resistance class are taken for full. In addition, the doors must be equipped with at least 2 multi -plant locks or one with approval. To reduce the cost of insurance (and also secure the house against theft), it is worth installing anti -burglary windows, blinds with approval, grilles, alarm, monitoring and ensuring constant supervision of the property protection agency.
In addition to thorough checking what exactly we insure and from what, let’s check the provisions regarding integral (conditional) franchise. This is the amount to which the insurance company is not responsible for the damage. This means that if the damage is negligible, we will not get compensation. However, when the value of the damage is higher, the entire amount due will be paid to us. Integral franchise can be given by amount or percentage. An important provision in the insurance contract is also own participation in the damage, i.e. a specific part of the damage that the policyholder undertakes to cover from his own funds. He can also be determined by percentage or quota.
House insurance under construction is not high compared to insurance of the existing real estate. This is due to the fact that the house under construction is simply less worth. In addition, when we insure a single -family house, we can buy many claims, including Protection of movable property from theft and destruction as a result of the forces of nature, which in the case of construction insurance is not possible. When looking for the best offer, it’s best to compare a few. The cost of the policy depends, among others from the scope of protection, house values under construction, building size, house structure (e.g. wooden, brick), protection period or sum insured. Internet calculators are available that will allow us to choose the right insurance.
The insurer may unfortunately refuse to pay compensation in the event that he finds that the damage arose as a result of intentional action or as a result of incorrect assembly of building elements. General exclusions of liability relate to damages resulting from, among others, the landslide or collapse in connection with earthworks, excavations, excavations; non -compliance with construction law and fire protection provisions; dirt, nominating, burning, which is not associated with fire, lightning strike, overvoltage, explosion, vibrations and vibrations caused by land vehicles; natural consumption and aging of property; lack of current property maintenance; long -term impact of such factors as moisture, temperature, electromagnetic factors; activities of mold and mushrooms; destruction of property by birds, moles, insects. Events resulting from acts of terrorism, war and social unrest are not protected.
Finding a reliable construction team is a big challenge. It is worth looking for a minimum […]
Read moreFormalities before building a house Starting the construction of the house is associated with many formalities. […]
Read moreHouse construction schedule – how long is the construction of the house It is not surprising […]
Read more
