Knowing the high risk associated with the accidental construction industry, insurance companies have been creating profiles specifies recruitment for this sector. Orillamar Management did not want to be left behind, and we have implemented in their own supply two forms of this sector which are:

ALL CONSTRUCTION RISK

The purpose of this insurance is to cover all damages and / or lost materials when the work is the result of an accident.

The work of civil works and facilities (cost of materials and labor), resulting from: Fire, Explosion, Fall of lightning, theft and spoliation risks of force majeure or of nature, whose occurrence and intensity is not predictable the site and time of year, the risks inherent in the execution of work (not always the flawed work of design errors, faulty materials, faulty workmanship).

Alternatively you can hire the coverage:

- Theft of equipment: usually the company will request a description of it and the insured value is to be given new value, that is, what it would cost to buy the equipment at present. However INDEMNIFICATION becomes a value (new value - depreciation for use). Do not forget that the value resulting from what has been stolen, the exemption will apply, typically 20% with a minimum of 600 - 800 €, which should be considered in the recruitment of this warranty, either because they rob us or compensation will be much smaller. Hence our recoemndación teams to ensure only those with significant value, for example from 1000 - € 1500 and with a long amortization period.

Is normally required that the equipment be stored outside of working hours and locked in place at times, to ensure that there is demonstrable surveillance.

It is very important to know that this only ensures the security teams of the policy-holder (builder or developer) so if you want to ensure the teams of subcontractors, this should be reported to the company, but then, when the theft and requesting invoices, the company name to come to the company not known a priori, it rejected the claim. The same happens when a group of companies, where the team is in the name of different companies.

- Theft of machinery: often necessary to provide accurate documentation of the same and should be assessed to new, but the compensation is at market value.

It is important to know who is covering the event of fire, acts of God and theft, but no external damage suffered by such machinery. It is customary for such cranes are rented and that the lease, the landlord requires the coverage of such damages. To ensure this eventuality should be a complementary suscibir so-called failure of machinery.

- Theft of material collected on site or installed in most policies in the sector is guarantee is automatically included in the basic coverage, however it is important to ensure that, to avoid unpleasant surprises in case of accident.

- Liability: some companies allow the hiring of the security as complementary to the principal, while limiting its reach to a maximum of 25% of the declared value of the work, which often involves a very small capital. Very few, which is within warranty includes the possibility of hiring employer liability (claims of workers for personal accident), which we believe is the most important guarantee, given the existing high accident.

We understand that recruiting is guaranteed, instead of a liability insurance policy, only justified in cases where the policyholder has no vocation for the future in the sector and its intention is just to perform that work, for example a autopromotor.

- Extended Maintenance: under this warranty shall be paid directly caused by defects or construction defects manifested during the year following the delivery of the work. Poor waterproofing, defective plumbing, etc.. generated damage, insurance will compensate such damage, the repair cost.
For example, the fabric of an asphalt roof is poorly positioned and with the first rains occur which affect the roof leaks, walls and floor of a room. The cost of mounting the scaffold, lift the tiles and change the material, will be borne by the builder or installer, the repair cost of the room, once the default will be borne by the insurance.

Functioning of the All Risk insurance Construction

The policy should be hired before the start of the work and material is declared a day of completion. Asepcto This is very important, because if the work is not delivered to no later than the day stated, any claim from the day after will not be covered.

It should be noted, the concept of work delivered. This is not like there is a final certificate of work, sometimes you get prior to the effective completion of the work to go accelerando different licenses that the work is delivered. While notary has not delivered the work, it is the responsibility of the builder, so if it is burned the day before delivery, which would start again. Thus, it is crucial to be attentive to the date of termination of insurance, to apply for as many extensions as necessary, until the final delivery of the work.

The holder can be the builder or developer.

Typically, the developer is required by the builder, however it is common for financial institutions are required by the sponsor, if sponsor credit. Therefore, in order to avoid having two policies on the same piece, our recommendation is that participants included both insured and of the work, independence of the internal agreement of sharing costs. This way, if the bank sought to be included as a beneficiary of it, may be done at no additional cost.

Note that the value to be reported as the sum insured is the budget execution of the work material. Our recommendation is expected to declare the actual value and not the project for various reasons, often below the actual calculation. The reason is that this is often known by the experts of the companies, which often have quite easy to prove the existence of infraseguro, using a proportional rule to establish the compensation in case of accident.

Minimum premium rates and construction all risks insurance

Premiums for this type of insurance varies depending on the type of building, whether in height, houses, townhouses, single, tertiary or industrial buildings. Although there is strong competition in the market today are often minimum premium enbtre 250 - 300 €.

Rates in the industry as a thousand extresan, moving the market actiualmente between 0.8 and 1 per thousand, depending on the type of work, duration, and the specifics of the project. Resulting from this calculation will have to add taxes, currently 6.3%.

We want to stress the importance of declaring the real value of the work, the rates being so low, the savings are very important, however a 20% reduction of compensation in the event of a major incident, may involve several thousands of facilitators euros of damage.

Franchising

The franchise is the amount in the event of a claim payment if the policyholder of the policy. They tend to establish different types of franchise based on the nature of the incident, the most usual;

1. Franchisees generally applicable to any claim, can range between 350 € and 800 € depending on the type of work and budget.
2. Franchise by phenomena of nature: often sets of alrdedor € 1.5000
3. Franchise for theft, usually is 20% with minimal loss of € 600-800
4. Franchise in the period of maintenance is often fixed, about 1500 €.

Other companies choose to have a single franchise set for all cases, for example € 1500.

SECURITY GUARANTEE DECENAL

The regulation of the insurance year is in the Law 38/1999 of the Building Management (LOE), published on November 6, and entered into force on May 6, 2000.

At the same provides for the developer of the housing requirement to sign a "physical damage insurance or insurance bond, to secure for ten years, the damages caused by defects in the building or defects that originate or affect foundations, supports, beams, the floors, walls and other structural loading, and to engage directly with the strength and stability of the building "(art.19c LOE).

This Act has been amended by Law in Support of the State Budget 2003, the repeal of the compulsory insurance for the year autopromotores. But if there is a transmission intervivios in the first ten years since the first entry of the home, unless agreed otherwise between the parties, it is bound to the constitution of the guarantee.

You should know that today is very difficult for an insurance company for insurance coverage for one year is already finished, therefore, to pass the house, the purchaser shall expressly disclaims the existence of such security.


Highlights of the law in reference to insurance

- The decennial insurance is mandatory for any work to dwellings.

- Insurance coverage extends only to the structural damage of the building, namely foundation and basic structure, not covering areas such as finishes, facilities, etc.

- The ten-year insurance coverage actually begins from the reception of the work.

- The sum insured in the insurance year must necessarily be 100% of the final cost of the work (performance, most of technicians' fees, plus VAT).

- An insurer may not establish a franchise more than 1% of the sum insured.

- May not be registered at the Land Registry if the buildings are not sure, for a period of ten years.

Object of the insurance policy year

• Damage to property caused by defects in the building or defects that have their origin or affect the fundamental work that directly engage the mechanical strength and stability of the building.

• The costs of repair and reinforcement incurred in removing the threat of collapse of the fundamental work, and necessary to safeguard the building.

• The cost of demolition and rubble removal.

Operation of the policy

The policy should be hired before the start of the work material. It is intended that the policy holder knows that the work is insured and what are the economic conditions that the insurance will lead to ten. In practice, given that the final draft is usually delivered to the Agency for Technical Control of the very early work, is usually recruit two - three months of work. This is to prevent situations which have unfortunately in recent years, the documentation to be delivered when the work is well advanced and that companies do not want to secure.

The policyholder must be ten Promoter, unless otherwise agreed with the builder to be the Tomador for him. You must know, in this case, as if the developer is both principal builder, a company set up, because in case of accident, could not repeat the cosntructor.

To do so will be essential for the Tomador (Promoter) hires a Body Control Technician (OCT), approved by the insurance company. That body, begins its work, doing a study on the project that results in a report called D0, this initial report is essential to recruit pre-ten-year insurance policy. Other reports usual, are on the structure D0.1, D1.1 if there are special units in the foundations, D5.1 and D5.2 on the implementation of the same material; D5.3 on non-bearing walls and finally the D6 Establishing the performance of the work with the project and is critical for entry into the insurance year.

Special mention should the technical reserves when it considers that the OCT has not received the technical documentation needed to perform the work, or right answers to your questions about the viability of the project or any aspect thereof, to deliver a technical reserve. It is important to know that if this reserve is not built in the time of issue of D6 (final report) emits virtually no company in the entrance of the insurance coverage, producing a very difficult situation for the tenant, then you can not register the work in the recording and sell it accordingly.
The company, based on a questionnaire completed by the policyholder and the report definition of risk given by the premium OCT establish a provisional deposit, of which a percentage will be paid at the time. At the end of the work, and always have been complied with other requirements, will determine the final premium depending on the final actual cost of it, being paid at that time.

Guarantees contracted decennial insurance

• Basic Warranty: Collect the minimum guarantees required by law.

• Warranty waterproofing of facades: The Control and the insurance shall extend to any damage to them.

• Guarantee of roof waterproofing: The Control and the insurance shall extend to any damage to them.

• Warranty Revaluation: revalue the capital is secured to the franchises and 5% annually.

• Abandonment of appeal against the manufacturer: If the developer and the builder are the same company or are part of the same group should hire is a guarantee.

• Abandonment of appeal against architects and / or accompanied

Minimum premium rates and insurance decennial

Companies working class decennial insurance, down, as in other classes, a minimum premium, and the normal € 2,000 of which will add taxes, currently 6.3% (insurance is exempt from VAT ) so the minimum cost for the final Tomador is € 2126.

The premium calculation is done by multiplying the value of the declared cost of the work, which must be 100% of the cost excluding the land value by a rate established by the companies according to the type of work, typically that building height is 5.5 per thousand and for houses, townhouses or whether individual is 7 per thousand.

If the result of that multiplication is less than € 2000, then charged that amount.

It is important to know that in the past there were instances where the declared value was much lower than the market reality, which caused insurance companies to establish a table which indicates a minimum cost per square meter depending on the acceptable type of building and province. For example in a comapñía, it is considered that states can not be less than € 370 per square meter in height for buildings constructed in the province of Almeria, 380 € in case of detached houses and 480 and in the case of individual houses .

Franchising

The franchise is the amount in the event of a claim payment if the policyholder of the policy. The law states that can never be more than 1% of the value of the work, but companies in cases where major works of 1% would mean a significant amount, typically 1% to establish a limit of € 6000 for example .
This aspect, except for ethical reasons, should not be of great importance to secure the policyholder's initial ten-year (the promoter or the builder) as given that the policy actually goes into effect once the work, the original holder is automatically substituted by purchasers of the houses, which will eventually, in case of accident, would suffer such relief.