972-3-6951414

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Insurance solutions for the construction and property industry

Insurance for reinforcing buildings against earthquake. Not every project involving reinforcing buildings is a national outline plan 38 project.


The term “Insurance for reinforcing buildings against earthquake” is usually associated with National Outline Plan 38 projects due to the primary aim of such projects – reinforcing the building against earthquake. However, it’s important to understand that not only residential buildings need to be reinforced against earthquake. Certain public buildings, buildings subject to preservation orders and historical sites also need to be reinforced against earthquake.

Regular buildings insurance usually includes cover for earthquake however Contractors All Risks insurance also covers Third Party Liability and Employers Liability and when the works are completed it is also possible to arrange Products Liability insurance for completed operations. However, arranging Contractors All Risks insurance for reinforcement projects is quite a difficult task.

Projects to reinforce buildings against earthquake are viewed by insurance companies as high risk and hence the “standard” Contractors All Risks policy does not provide full cover for reinforcement works, other than if an in-depth analysis of the customer’s needs has been made to formulate an adequately tailored insurance policy.

Furthermore, due to the severity of the risks, insurance companies are also not very keen to provide cover at all for reinforcing buildings against earthquake.

Confused? We have the solution…
 

This is where our professional knowledge and experience comes into the picture


✔ Maximum cover at the minimum price – In order to obtain the broadest cover under your insurance policy, we conduct in-depth and comprehensive preparatory work (for example, we may suggest arranging a survey to document the buildings) such that the insurance company will be willing to provide a solution that allays the concerns they have with such projects that often lead to numerous exclusions, and provide you with the broadest cover.

✔ Since we deal with a large number of construction companies, we have the buying-power and professionalism to obtain especially competitive prices for our clients.
תמונת אייקון ביטוח לחיזוק מבנים
 
 

In order to avoid a situation whereby you start a project defined as high risk with only partial insurance cover or even without any insurance cover, you need an experienced insurance agent. Over the years we have been actively involved in this sector and have acquired the means to cope with projects considered to be high risk and devise creative solutions that the insurance companies are comfortable with on the one hand, and which provide you with extensive cover at a competitive price on the other hand, asides some other unique advantages in working with us, which are as follows:
 

✔ Fast response – It can take quite some time to obtain a quotation from the insurance companies for projects involving reinforcing buildings against earthquake due to the need to conduct an in-depth analysis into the risk levels the insurance company is being asked to accept.

✔ Projects of this type, including National Outline Plan 38 projects, are not very popular with the insurance companies. It’s important to understand that in most cases without a signed and sealed insurance policy, you won’t be able to start the project.  We know how to simplify matters and avoid delays due to the extensive information we provide to the insurance companies at the initial stage and thereby save you valuable time taken up by various questions and queries.

✔ Our team of experts – In complex projects and those involving a high level of risk we are assisted by a team of insurance experts, insurance surveyors, loss adjusters and engineers wo are available to provide advice and guidance and most importantly to ensure that you are fully paid in the event of a claim. In the event of serious accidents we are advised of immediately – our accident expert will assist in handling the claim from day 1.
 

When we arrange a policy covering reinforcement of buildings against earthquake, you are guaranteed the widest cover under all sections such as insurance cover for the existing building, Employers Liability, Contractors All Risks and Third Party Liability. All of these covers for such projects need to be specially extended and meticulous attention needs to be paid to the fine print and the policy exclusions for policies covering reinforcement of buildings against earthquake, which are usually numerous and onerous.
Standard insurance policies will not provide sufficient cover in the event of a claim and the cover will only be partial.

 
 

ARRANGING INSURANCE WITH US FOR REINFORCING BUILDINGS AGAINST EARTHQUAKE – A GOOD DECISION

 

The importance of paying specific and meticulous attention to safety procedures in National Outline Plan 38 projects arises from the fact that such projects are carried out on unconventional construction sites. National Outline Plan 38 projects are the only type of numerous construction projects involving work in inhabited buildings. This special situation means that the contractor must pay specific and special attention to safety and hygiene, not only for their own staff but also for the residents of the building.
 

The Contractors All Risks policy is a basic policy that includes: Property insurance (covering the works, materials and light equipment), Third Party Liability and Employers Liability. However since each individual construction project has its own unique aspects and its own particular hazards and risks; each such project needs to have a tailor-made insurance policy and a creative solution adapted to the individual project, to ensure the maximum and broadest insurance cover at the lowest possible cost.
 

Insurance cover for National Outline Plan 38 projects is one of the most complex covers to arrange, due to the high probability of claims, and this is the reason why many insurance companies are not very keen to insure projects for reinforcing buildings against earthquake such as National Outline Plan 38 projects. Furthermore, an especially problematic issue in National Outline Plan 38 projects is the fact that the same building which is undergoing extensive construction works continues to be inhabited, thereby exposing the residents to various and numerous risks.
 

Employers Liability insurance is one of the three sections of a Contractors All Risks policy and hence the question is not whether to arrange Employers Liability insurance, but how to achieve the maximum level of cover. This point is especially important considering the fact that there are around 6,000 injuries and 50 deaths per year in construction sites around Israel. These figures exacerbate the fact that there are numerous scenarios and risks that the insurance companies aim to avoid by introducing exclusions to the cover, limiting the cover or increasing the premium. We aim to obtain the widest cover at the lowest cost for you.
 
 
 
 
 
 
פועל בעבודה על חיזוק מבנים מפני רעידות אדמה
 
 

For information or details about the type of insurance required, 
please fill out the form and we will contact you shortly

Do you need Contractors All Risks insurance? 

Call us on 972-3-6951414
contact us by e-mail:
itzick@simon-ins.co.il

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insurance for reinforcing buildings against earthquake 

Please contact me directly
Itzick Simon
972-50-5299480