Your construction project securely protected
Comprehensive protection for your construction project: The construction all-risk insurance from nextsure protects you against unforeseen damages and financial risks during the construction phase. Find out more now!
Protection against building damage
Financial security guaranteed
Digital & uncomplicated
Why the Contractors' All Risks Insurance from nextsure is the right choice for your project
Covers unforeseen damages during the construction period.
Protects against financial consequences due to vandalism or force majeure.
Individually adaptable to your specific construction project.
Simple online completion and quick claims settlement.
What is a construction performance insurance and why is it indispensable?
Builders' insurance, often referred to as construction insurance, is an essential safeguard for any building project, whether it's a new construction, renovation, or refurbishment. It covers unforeseen damages that can occur to building works, materials, and components during the construction period, regardless of who caused the damage. Without this protection, even minor incidents could lead to significant financial burdens and jeopardise your project's timeline. nextsure offers you a transparent and powerful construction insurance tailored specifically to the needs of digitally savvy builders, allowing you to focus entirely on realising your dream home, knowing your investment is secure. The coverage applies, for example, to damage caused by extreme weather conditions such as storms and hail, but also to vandalism, negligence, or material defects. Given the high investment sums and the complexity of construction projects, builders' insurance is not merely a recommendation but a fundamental necessity for every responsible builder.
Comprehensive protection for your project
Our services at a glance
Damage coverage
Protection against unforeseen damage or destruction during construction.
Force Majeure
Protection against damage caused by storms, hail, or other elemental events.
Vandalism
Insurance coverage for malicious damage by third parties.
Material defect
Coverage for damages caused by defective building materials or construction defects.
Negligence
Protection against damage due to clumsiness during construction.
Theft
Insurance coverage for theft of permanently installed components.
Glass breakage
Insurance coverage for glass breakage during the construction period.
Construction site risk
Optional co-insurance for unforeseen subsoil and soil mass issues.
Digital Policy
Simple online conclusion and management of your insurance policy.
nextsure Construction Insurance – Secure through the Construction Phase
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What specific damages does the construction all-risk insurance cover?
The scope of a construction all-risk insurance is comprehensive and protects against a variety of risks that can occur on a construction site. Typically covered risks include: damage caused by force majeure such as storm, hail, flooding (as long as not caused by storm surge or groundwater), or earthquake. Also covered are damages due to unusual weather conditions like heavy rain or frost. Another important aspect is protection against vandalism and theft of permanently installed parts. Damages caused by negligence, clumsiness, or malice by third parties are usually included. Additionally, the insurance often covers damages due to construction or material defects, provided these were not detectable before construction began. Glass breakage damages to the structure are also frequently insured. Nextsure ensures that the coverage of your construction all-risk insurance is clearly defined and offers you maximum protection. It is advisable to review the exact insurance terms to fully understand the scope, as the devil is often in the details. Optional additional modules can extend the coverage, for example, for existing structures during renovations.
Who is construction insurance particularly important for?
The construction insurance is primarily designed for the client and is essential. As the client, you bear the financial risk for all unforeseen events on your construction site. Whether you are constructing a single-family house, a multi-family house, or a commercial property – the potential costs from damages can quickly become a threat to your existence. Developers who build on their own account also benefit from this protection. Although the executing construction companies often have their own liability insurances, these do not cover all damages that a construction insurance does, especially no damages caused by force majeure or anonymous perpetrators. Architects and planning engineers can strongly recommend to their clients the conclusion of construction insurance to minimize project risk. At nextsure, we understand the needs of private clients and offer tailored solutions that meet the complex requirements of a construction project. A worry-free construction begins with the right protection – construction insurance is a key component in this.
Bauleistungsversicherung vs. Bauherrenhaftpflicht: The Differences Explained
Many builders wonder whether a construction performance insurance is necessary when a builder's liability insurance already exists. The answer is clear: Yes, because both insurances cover fundamentally different risks. The builder's liability insurance provides coverage when third parties suffer damage due to your construction project (personal, property, or financial damages). It protects you from compensation claims, for instance, if a passer-by is injured by falling parts or if the neighbouring property is damaged. The construction performance insurance, on the other hand, protects your own structure and the services performed on it against unforeseen damage or destruction during the construction period, such as from storms, vandalism, or material defects. It therefore covers the damage to your own investment. Both insurances are indispensable for builders and complement each other perfectly. nextsure strongly recommends concluding both policies to ensure comprehensive protection for your construction project and to secure financial risks from all sides.
The most common misconceptions and misunderstandings about construction performance insurance
There are some misconceptions surrounding construction all-risk insurance that can lead to underinsurance or false expectations. A common mistake is the belief that the liability insurance of the contracted craftsmen covers all damages. This is not correct, as it only covers damages caused to third parties or the construction work itself through fault, not for acts of nature beyond one's control or random vandalism. Another misunderstanding is that the fire construction insurance, often included in the homeowners' insurance, is sufficient. However, fire construction insurance only covers damages caused by fire, lightning, and explosions, not the wide range of other risks that construction all-risk insurance includes. Some property developers also believe that the insurance is too expensive. Given the potential magnitude of damages on a construction site, the premium for construction all-risk insurance is a comparatively small investment in the overall project's safety. nextsure places a high value on providing transparent information to ensure that you fully understand the value and scope of your construction all-risk insurance and can make informed decisions.
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Costs and Factors: How is the premium of your construction insurance calculated?
The cost of construction insurance is individual and depends on various factors. The most important factor is the construction sum, meaning the total construction costs of the building, including all ancillary building costs (excluding land value). The higher the construction sum, the higher the premium tends to be. Another decisive aspect is the planned construction period; longer construction times can increase the risk and thus influence the premium. The type of construction project (new build, renovation, type of building) also plays a role. An agreed deductible in the event of a claim can reduce the premium: the higher the deductible, the lower the premium. The chosen scope of services and any additional modules, such as the insurance of existing building substance or coverage of damages due to civil commotion, also affect the price. At nextsure, you can calculate your construction insurance transparently and digitally. We help you find an optimal price-performance ratio that is precisely tailored to your project and provides you with the necessary protection without unnecessary costs.
How to choose the optimal plan for your construction insurance at nextsure
Selecting the right policy for your construction insurance is crucial for comprehensive protection. At nextsure, we make this process simple and digital. First, you should determine the exact construction sum of your project – this forms the basis for the premium calculation and the insurance sum. Consider which risks are particularly relevant to your specific construction project. Are you building in a storm-prone area? Are there specific risks concerning vandalism? Pay attention to the scope of coverage: Are all risks important to you covered? Check the amount of the deductible. While a higher deductible reduces the premium, it also means higher costs in the event of a claim. Compare the offered policies not only by price but, above all, by the included services and the insurance conditions. Our digital insurance calculator on the nextsure website guides you through the process step-by-step, enabling a transparent comparison. If you have any questions, our team of experts is happy to assist, ensuring that you find the policy that perfectly suits your needs and your construction project.
Claim: What to do when damage occurs on the construction site?
Despite all precautions, damage can occur on a construction site. In such a case, swift and correct action is important. Report the damage immediately to your construction insurance, which is nextsure. Document the damage as thoroughly as possible: Take photos or videos from various angles and provide a detailed description of the cause and extent of the damage. Take immediate measures to mitigate the damage to prevent it from worsening, but without removing the original cause of the damage before the insurer or an expert has examined it. Always coordinate further steps, especially repair measures, closely with nextsure. Collect all relevant documents such as invoices for materials or repair cost estimates. Complete the insurer’s damage report truthfully and in full. In the case of theft or vandalism, a report to the police is also required. nextsure supports you in the event of damage with a straightforward and digital process to ensure prompt regulation and get your construction project back on track quickly.
From when and for how long does the construction performance insurance apply?
The construction insurance is a central pillar in securing your building project; however, depending on the project, additional insurance may be practical or even necessary. The aforementioned builder's liability insurance is a must. A shell fire insurance, often included free of charge in the future home insurance policy, protects the shell against fire, lightning strikes, and explosions. Also, consider accident insurance for construction helpers if friends or relatives are helping out on the site; they are not automatically insured through the trade association of the construction industry (BG Bau). Legal expenses insurance can be helpful in disputes with construction companies or neighbours. Upon completion of the construction, the construction insurance is then replaced by the home insurance, which covers the completed house against fire, mains water, storm, and hail. nextsure, as a digital insurance portal, also offers suitable and flexible solutions for these additional areas. Contact us to tailor your individual insurance package optimally around home building.
