Construction Insurance for your new building or renovation site in Portugal

At C1 Broker you will find construction insurance products with the best coverage and conditions that protect your investment

Construction Insurance for your new building or renovation site in Portugal

In Portugal there are two types of construction insurance, the construction express insurance for remodelling works – which as the name indicates can be taken out very quickly and is designed for small renovation works – and then there is the full construction insurance, indicated for integral construction works, which requires the presentation of some specific technical documentation.

Choosing the right Construction Insurance in Portugal

C1 Broker, insurance broker in Portugal, offers a variety of construction insurance and policies with different coverage. We work with serious and reliable insurance companies, to offer our clients quality products and suitable cover for each situation. Let us advise you. 

You will need a construction insurance when you do a complete construction work ( a new building or house), and also indicated when you do renovation works. During renovation work on an existing house, it is quite common for fires, burst pipes and flooding to occur, so construction insurance is clearly an indispensable insurance.

Also available is the infrastructure insurance, also called “ten-year insurance” because it guarantees material damage to finishing elements, and as well damage to building elements or installations that affect the habitability requirements and, in the long term, also covers material damage to foundations or structures that affect the stability of the villa during 10 years after the construction is completed.

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Why you need a construction insurance when you're building a new house in Portugal or your renovating an existing one

When you’re building your home in Portugal, construction insurance is a must. Accidents happen, and if someone is injured on your property, you’re liable. Construction insurance protects you from lawsuits and other financial damages. It also covers the cost of repairs if your home is damaged by fire, theft, or vandalism. In addition, construction insurance can provide replacement costs for materials and equipment that are lost or damaged during construction. Whether you’re building a new home or renovating an existing one, construction insurance is an important part of any construction project. Here are some examples of what can happen, and why you need a construction insurance.

 

A machine damages your neighbour’s property and his claiming for compensation

 

If an accident occurs on your construction site that damages your neighbour’s property, you are liable for the damages and must pay for repairs. This means that if a machine damages your neighbor’s wall, you are responsible for repairing the damage. Also, if your construction site is not properly secured, you may also be liable for any injuries that occur as a result of the accident. Construction insurance will pay for the repairs, but you will still be responsible for any Deductibles or other out-of-pocket costs.  As a result, it is important to be aware of your responsibility as a construction site owner and to have adequate insurance coverage in place.

 

A brick hits the head of a person passing by

As the owner of a construction site, you are ultimately responsible for the safety of everyone on your property. This includes also any passers by who could be injured by loose bricks or other debris. If a brick hits the head of a person passing by, you could be held liable for their injuries. Construction insurance can help to protect you from unexpected accidents like this. Your policy will pay for the medical expenses of this injured person, as well as any legal fees that you may incur. In the event of a serious accident, construction insurance can provide invaluable financial protection.

 

 

A fire burns part of your house under construction

A short circuit in a machine can cause a fire that burns part of your house under construction. Construction insurance protects you from such unexpected accidents. It is a must to have this insurance so that you will be compensated for the damage caused by the fire.

What documents do you need to present to get a quote for your construction insurance

Depending of the types of construction insurance, you will need to present the following documents and information. 

 

Construction Express Insurance for Remodelling Works

This type of insurance can be taken out for  buildings of new construction if  the cost of the work is up to 1,000,000 Euros and with  a the time limit of up to 18 months. And for Rehabilitation / renovation  of building when there is no intervention in foundations and/or structure, the cost of the work is up to 500,000 Euros and the duration  limit is up to 6 months. This express insurance is indicated  for Residential buildings, Detached houses and Semi-detached houses.

Documents & information we will need to receive from you to quote your Construction Express Insurance:

  • Identification of the Policy Holder
  • Execution proposal
  • Descriptive document – description of the work to be carried out
  • Work planning – start and end dates
  • Plans and details
  • Risk location
  • Intended guarantees
  • Budget summary – preferably detailed
  • Specifications & Technical Conditions
    • Maximum number of floors above ground level: (for this product should not be more than 3);
    • Maximum number of floors below ground level: (for this product should not be more than 1);
    • Direct foundations;
    • Land with slopes of less than 15%;
    • Excavation above the water table;
    • Metallic and/or mixed and/or reinforced concrete structure.
 

Full construction insurance

Here you will need to present some specific technical documentation: