Construction Insurance

Pasha Insurance offers building owners, contractors and investors a comprehensive protection of their property interests related with construction, installation, repair and reconstruction of entities of any degree of complexity.

Insurance is made based upon the guidelines developed by specialists of the company taking into account the international practice.

We offer insurance of:

Construction works;
Installation works;
Construction facilities;
Construction site equipment;
Costs of site clearance;
Unexpected expenses during the period of guarantee commitments following the launch;
Civil liability versus third persons during construction & installation works;
Professional liability of builders and architects.

Construction Insurance

Construction works are series of activities aimed at building a unit, carried out in accordance with the building work contract (construction contract).

The insurance amount is set at the value of the total projected (estimated) cost of the construction works at the time of their completion, including the cost of materials, salary, transportation costs, customs duties, fees and others, as well as the cost of materials and construction elements, supplied by the building owner.

The damage caused is compensated in the amount of:

• In the event of theft of the insured property — in the amount of its cost at the time of the insured event with the deduction of its wear.

• In the event of destruction of the insured property – in the amount of its cost at the moment of the insured event with the deduction of the cost of the remnants in place, fit for further use.

• In the event of damage to the insured property — in the amount of the costs for its restoration to the state, in which it was before the occurrence moment of the insured event

 

The costs for restoration of the insured property may include:

• Costs for obtaining materials and spare parts, which are necessary for restoring the damaged property

• Costs for reimbursement of the works aimed at restoring the damaged property

 

Insurance of Installation Works

 

Installation works are series of activities carried out in accordance with the building work contract (construction contract).

The insurance amount is set at the value of the total projected (estimated) cost of every unit of insurance upon completion of the installation works, including transportation costs, customs duties, installation related fees and expenses and others, as well as the cost of various installation elements, supplied by the building owner.

The inflicted damaged is compensated in the amount of:

• In the event of theft of the insured property — in the amount of its cost at the time of the insured event with the deduction of its wear

• In the event of destruction of the insured property — in the amount of its cost at the moment of the insured event with the deduction of the cost of the remnants in place, fit for further use

• In the event of damage to the insured property — in the amount of the costs for its restoration to the state, in which it was before the occurrence moment of the insured event

 

The costs for restoration of the insured property may include:

• Costs for obtaining materials and spare parts, which are necessary for restoring the damaged property

• Costs for reimbursement of the works aimed at restoring the damaged property