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CONSTRUCTION WORKS

Construction Works Insurance

Undertaking construction projects entails inherent risks, making insurance a paramount component of an effective risk management system, ensuring that unforeseen events do not bring work to a standstill.

The EFES ICJSC team brings a wealth of experience in insuring and supporting numerous major construction endeavors. Having navigated through countless construction-related incidents, we possess a comprehensive understanding of the necessary protocols. Leveraging our extensive network of partner reinsurers, we stand as the optimal choice for substantial projects involving foreign investment.

WHAT CAN BE INSURED?

  • Unfinished construction facilities,

  • Installment tools/machinery,

  • Property on the construction site which belongs to the Contractor, Customer or Developer, or any other related party who has an interest in it,

  • Construction equipment,

  • Temporary structures and other construction equipment,

  • Materials that are stored outside the construction site.
     

WHAT RISKS CAN BE INSURED?

EFES ICJSC offers comprehensive construction insurance coverage. In other words, it is not necessary to separately find property insurance, separate liability, etc. All necessary types of insurance are in one place - in EFES.
Standard risks: fire, explosion, lighting strike, fall of flying objects, natural disasters, illegal actions of third parties.

Technical risks: errors during construction and installment, accidents of engineering lines, subsidence, collapse, or damage to constructing objects, architect's risk.

Construction works can be insured both separately from each of the above-mentioned risks, and in a systematic way - from "all risks".

SUM INSURED (MAXIMUM LIMIT OF COMPENSATION)

For construction, unfinished construction and installation works, equal to the project cost of the facility․
For construction equipment, buildings and structures located in the construction site, the estimated amount is the real value of the object.

For liability coverages the Insured's preference․

OUR ADVANTAGES

EFES ICJSC offers risk insurance at all stages of the construction organization's activity, starting from the unloading of materials to the construction site, until the end of the post-warranty obligations.

Our Company has compiled comprehensive construction risk insurance policies that ensure maximum protection for clients. The rules have been drawn up according to international standards.

Extended Coverage

Along with construction risk insurance, third party civil liability of the contractor can also be insured. In this case, EFES ICJSC will compensate the damage caused to life, health or property of third parties.

Thus, EFES ICJSC offers its clients maximum insurance protection.

INSURANCE RATES

You can get a quick insurance premium quote by contacting our specialists at info@efes.am.

HOW TO OBTAIN INSURANCE POLICY?

To obtain an insurance policy, fill out the insurance application-questionnaire and send it to the following e-mail address: info@efes.am.

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