Building Industry
Builders | Architects | Site Manager | Building Contractors
The building services insurance is a fundamental insurance and protects contractors and builders from unpredictable damage that occur during the construction period. We advise every builder to take out a building insurance before the construction of the house so that a large financial loss does not endanger the completion of a construction. This way, unplanned obstacles cannot endanger the project.
Since the introduction of the "Decenal" (a compulsory insurance for the ten-year guarantee on the structure of the building) a few years ago, this sector is finally experiencing a qualitative upturn. Please note that in Tenerife (and Spain) construction has quite different regulations than the rest of Europe.
We will gladly explain to you in a personal consultation, as to which details you have to pay attention to.
Types of insurance
Here is a compiled overview of the most important elements of a construction management insurance.
Liability Insurance
The liability insurance protects you from financial disadvantages as a result of claims for damages directed against you.
Bauherrenhaftpflicht
This insurance provides protection against statutory liability claims as a result of a breach of traffic safety obligations when implementing a construction project.
Full insurance for the construction
The comprehensive insurance is a voluntary additional insurance to supplement the construction management insurance. E.g. it covers vandalism, force majeure and self-inflicted accident damage.
Decenal
The Decenal covers the ten-year warranty. It is an object-specific compulsory insurance for all participating companies that enter into a contractual relationship with the client. It must be taken out before the start of construction.
Tip
This topic is extremely complex and quite different than in the rest of Europe. We, therefore, recommend you, to take advice only from professionals like us in this matter, to be well advised and looked after.