Complete a construction insurance against theft

Construction sites attract thieves magically. The mostly unlit and often uninhabited environments host much potentially attractive and valuable stolen goods. A construction insurance against theft can be completed. It covers care and precautions provided stolen building material and tools.

Classification of potential stolen goods

In building construction, many building materials, tools and aids are used. Whether a construction insurance pays for theft reimbursements depends primarily on the type of storage and safety precautions. Generally, loose and unprotected stored items are not insurable against theft.

The building materials required by craftsmen are not insurable until they are installed as intended. From the point of view of the client, however, the liability for the material remains until use and the tools of the craftsman. Contractually, they are a part of the trade and must therefore be "protected" by the craftsman.

Complete a construction insurance against theft: complete

Ownership of the builder such as roof tiles, stones, beams, metal or other building materials can not be insured in loose storage. The building insurance only occurs in cases of theft of used materials.

Scope of benefits and insurance coverage

A construction insurance, also known as construction services insurance, offers a range of coverage that can be expanded to include the theft. The basic coverage of the policy includes:

  • Breakage of already installed glazing
  • Damage from construction, groundwater and rainwater
  • Damage caused by extreme weather conditions
  • Evil or negligence by the craft companies
  • Stolen pre-assembled prefabricated components stored on the construction site
  • All components already assembled and connected to the building

Costs of construction insurance against theft

The costs for an insurance policy depend on the construction cost. On average, providers demand between 0.15 and 0.2 percent of the construction amount without theft. Theft protection requires between 0.25 and 0.5 percent. As with other types of insurance, a deductible can reduce the premium.

Protective measures against theft

Almost all insurers also exclude the cover of theft in barracks and storage sheds. However, individually negotiated clauses are possible if separate and secure storage locations are set up. A typical example is lockable storage containers, which can increase the extent of the theft protection after the assessment of a provider.

Tips & Tricks

As construction schedules often fail to meet schedules, you should negotiate a possible renewal premium even before the insurance is completed.

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