Construction and Installation Insurance

For whos is
Construction and Installation Insurance?

Construction insurance is a type of insurance that ensures the protection of insured buildings during their construction or reconstruction. This insurance applies to those who build (ie the contractor) and those who finance the construction (ie the client).
From 2017 this insurance is obligatory for all structures under construction in the Republic of Lithuania.

Why it is useful to insure with us?

We will take care of the protection of your prohibited buildings during their construction or reconstruction.
We will offer a competitive payment and an individual solution that meets your needs.
Simple insurance process
When concluding an insurance contract, please fill in a short questionnaire and provide basic information about the object under construction, such as site plans.
Fast claim administration
We will make a decision on the insurance benefit within the shortest possible time, not exceeding 30 calendar days from the date of receipt of all necessary documents about the event.

Why it is useful to insure with us?

You can choose additional insurance services

If you are interested in additional services, consult our experts and we will help you choose the right one

In the object under construction, installation or reconstruction, we can additionally insure:
  • Additional costs for construction site management works after the insured event
  • Auxiliary equipment for construction work, such as formwork, scaffolding, temporary housing for builders, etc.
  • Construction machinery
  • Objects already on the construction site due to the risk of damage caused by construction works
  • Other additional costs, such as document restoration costs, additional costs for overtime or night work, expedited delivery costs, and so on.
  • Delayed business activity, consisting of lost profits and fixed costs, due to an insured event
Compulsory construction insurance

From 2017 a new version of the Law on Construction and new rules on compulsory insurance of construction works and civil liability entered into force. Compulsory construction works and civil liability insurance must cover the maintenance works of each building construction, reconstruction, repair, renovation, demolition and cultural heritage objects. Exceptions are made only for simple structures and repairs that fall into the category of simple repairs.

Under these rules, the obligation to take out compulsory insurance arises for the contractor when he concludes a contract with the builder for all the construction work on the building, or for the builder himself, in cases where the builder carries out construction on a farm or mixed basis or works.

The term of the insurance contract covers the period from the beginning of construction works to their completion. The sum insured for construction works must be not less than the value of the construction works performed, and the minimum amount of civil liability insurance must be 43 000 EUR. Upon completion of the construction works, the civil liability insurance for the performed works is valid for another two years.

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