Insurance for Construction Owners

Insurance can be obtained for various areas and protects the insured in the event of risks occurring. The insured pays the contracting party a certain amount to receive support from them in case of damage.

Especially on construction sites, insurance can protect and secure those involved and partners. Construction companies face major risks with every construction contract, which in the worst case can threaten their existence. Possible damages can include:

Crane tipping over

Collapse of scaffolding

Vandalism and theft by third parties

The most important insurance for construction owners

There are many types of insurance that are essential for construction owners and protect against financial burdens. The most important insurance for construction owners are builders liability insurance, construction performance insurance, construction worker accident insurance, construction equipment insurance, and construction operations liability insurance.

Coverage of services – Insurance for construction owners

The standard insurance is builders liability insurance. It insures the construction owner against possible risks that could arise in connection with the construction.

Construction performance insurance protects against unforeseen damage caused by bad weather or actions of third parties, such as vandalism.

Construction operations liability insurance covers damage that has been caused to third parties. This includes consequential damage from faulty construction work or damage to neighboring buildings.

Construction equipment insurance covers part or all costs in case of damage to the construction equipment. There are two types of insurance: comprehensive coverage for construction equipment (ABG) and machinery and comprehensive coverage for mobile equipment (ABMG).

Renting construction machines from klarx – how am I insured?

If no liability limitation is agreed upon, the renter is liable for any damage to the rental equipment (regardless of whether caused by the renter or third parties) and for loss or theft during the rental period. In this case, the renter is required to insure the equipment against all types of damage, insofar as insurable, in favor of the lessor for the duration of the rental period and to submit proof of coverage from the insurance company to the lessor before the start.

When you rent machines from klarx, you receive a liability limitation from us without exception, which insures you against damage to the rental equipment. If you already have your own insurance, we ask you to provide proof.

Further information can be found in our Terms and Conditions.