A Policy That Insurance Companies Prefer Not to Issue
Building preservation and rehabilitation insurance involves a level of risk and particularly high compensation costs. The risk from the insurance company's perspective is actually double - both because of the dilapidated state of the building, which raises the risk level of its collapse (complete or partial) and an insurance claim, and because in the event of an insurance incident, the building must be reconstructed and brought to its original condition.
In recent years, there have been several severe cases of building collapses during preservation and rehabilitation works, which created significant reluctance of insurance companies to insure projects of this type.
Building reconstruction is a complex and expensive job. Added to this is the need to comply with the provisions of the law for the preservation and rehabilitation of buildings, compliance with which brings the complexity of reconstruction work to an even higher level.
And there are more 'mines' along the way.
Sounds discouraging? We should meet!
Preservation and restoration of buildings insurance
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Our Experience Brings Results and Cost Reduction for You
This is our area of specialization for over 35 years of work, during which more and more contractors and large, well-known construction companies preferred to purchase policies from us such as construction company insurance, contractor insurance or professional liability insurance and product liability insurance.
The underwriters of insurance companies have also come to know us, our professionalism and integrity, and the ability to formulate creative solutions tailored to every matter and issue. We succeed in issuing you insurance policies for building preservation and rehabilitation and also providing additional advantages.
There are a few more advantages to working with us:
✔ Cost reduction – Building preservation and rehabilitation insurance involves particularly high costs against the background of high risk levels. We have the tools to create for you an optimal coverage package at a low price.
✔ Insurance coverage – In every construction project, and all the more so in projects with a high risk level, the importance of the scope of insurance coverage is critical. Often the policy will include protection requirements, exclusions, and guidelines regarding the method of execution, in order to minimize damages and reduce the many risks; here we will take care of optimal insurance coverage for you.
✔ Shortening processes – Without insurance, the project cannot begin. Insurance companies are not quick to promote insurance when it comes to building preservation and rehabilitation. We are. We 'process' things quickly, so the survey and underwriting will be done quickly and efficiently.
✔ Hand in hand all the way – Our work does not end with the issuance of the policy. We are a team including insurance experts, engineers, accident investigators, and lawyers (for defense during a serious accident investigation) - together with you throughout all rehabilitation and preservation works. Also immediately available for every call, also providing professional guidance and direction, and also making sure you exhaust your rights according to the policy terms when it is activated when needed.
Contractor Work Insurance - Must Know
The basic insurance coverage is provided to you in the standard contractor's insurance policy. But why settle for basic coverage when you can have extended coverage? And in general, who knows that each project has its own unique characteristics that the basic policy does not cover, and as a result, you may expose yourself to unnecessary and expensive risks. Therefore, you need a professional and knowledgeable agent who can provide you with extended coverage at a competitive price ....
Contractor Insurance - Important Information to Know
It is well known that insurance companies are not interested in issuing a building preservation and restoration insurance policy because of the high level of risk. Unless you have an understanding agent who, thanks to his extensive experience and in-depth knowledge of insurance, knows how to bring creative solutions that provide you with maximum coverage while at the same time allaying the insurance company's concerns. How do we do this?...
Insurance for entrepreneurs - because you have a big responsibility
Every construction project is a complex project: a contractor, subcontractors, equipment, property, schedules, raw materials, work procedures, safety regulations, and from all of these and more, a contractor's insurance policy is supposed to protect you. Because of that complexity and the multitude of 'unexpected' events, I formulate a contractor's insurance policy with comprehensive insurance coverage against precisely those unexpected events. And I also have an important piece of information...
Insurance company survey
A tool that allows you to expand your coverage and reduce exclusions and requirements from the insurance company.
Performed on behalf of the insurance company by an expert surveyor in the construction industry, and he is the one who will usually determine the mandatory protection requirements for insurance coverage for the project, as well as the terms of coverage in the event of damage or physical injury to an employee or third party in the project.
The survey will sometimes even affect the way the work is performed. Damage Controls Failure to comply with the survey requirements may even result in the denial of insurance coverage...
Survey to document the condition of nearby buildings
A tool that allows you to expand your coverage and reduce exclusions and requirements from the insurance company.
A documentation survey of adjacent buildings is a condition for covering damage due to shaking and weakening of ground support for buildings adjacent to the project in third-party insurance and is extremely important for insurance coverage.
The survey is intended to document the condition of the buildings adjacent to the construction project before work begins in order to determine, if damage will be caused to nearby buildings, to what extent, if any, the work caused this damage...
