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Comprehensive insurance is extremely important in the construction industry. Because things can happen far too quickly. In addition, the types of damage in this area are very diverse. From liability damage to damage to inventory to electronic damage and more, everything is possible. Only those who are well insured are really well protected.
Your company is probably your life’s work. A great all-round protection is therefore very important. And that is exactly why we are your perfect partner – we know what is important.
So that you can always do your work without worrying and be relaxed about any damage, you need good insurance cover. And therefore the following insurance policies.
Protects you against claims for damages from third parties and the financial consequences of damage
Pays for damage to your business equipment and protects you against damage-based financial burdens
Covers the costs of repairs and new purchases in the event of electronic damage
After all, a lot can happen on a construction site. Whether it’s a sinking wall, a falling scaffold or a carpet damaged by paint, the risk of damage is high. Damage can occur far too quickly. And then it gets really expensive. Because the amount of claims for damages can very quickly threaten your existence. This is especially true in the case of personal injuries.
That’s why it’s important to protect yourself! As experts in this field, we know exactly what we’re talking about and are happy to support you with your comprehensive insurance.
BLI protects you against the consequential costs of damage and the associated claims for damages. It pays for damages caused to third parties by your business and your work and thus protects you against the financial consequences of damage.
Generally, commercial liability insurance covers the following three types of damage:
Personal injury occurs when a person is injured on your construction site or in the premises of your construction company.
Property damage occurs when third-party property is damaged. For example, underground cables caused by excavation work or a vehicle parked on the side of the road damaged by parts from your construction site. Floors damaged during painting work are also considered property damage.
This type of damage, also known as consequential financial losses, occurs as a result of personal injury or property damage. For example, the loss of earnings suffered by an injured person. Or loss of sales caused by business interruption due to damage to one of your business customers.
In addition to the three main types of damage mentioned above, BLI also covers the following damage:
For you in the construction industry, the insurance against environmental damage is particularly interesting. After all, you work every day with various substances that should not get into the soil or groundwater. If this does happen, BLI reliably protects you from the financial consequences.
Would you like to find out more about this? Feel free to contact us. We would be happy to advise you in detail on the subject of commercial liability insurance and all the damages insured under it.
Now that it is clear which types of damage are insured, it is of course interesting to know which types of damage are included in your area, i.e. the construction sector, for example. For example
As you can see, with business liability insurance you no longer have to worry about damage and its financial consequences. And this is regardless of whether you, an employee or even a subcontractor caused the damage.
The BLI covers all damage caused by your company. But what if an unjustified claim for damages is made against you? In other words, a claim relating to damage that was not caused by you or your company? Even then, you are on the safe side. Because the BLI checks every claim made against you. If it turns out to be unjustified, the insurance company will reject the claim. This means that legal disputes are no longer an issue for you.
On the other hand, business liability insurance covers legitimate claims.
Are you actually aware that as a company owner you are still liable for any damage even if you have already closed your business? Not good news, is it? But the BLI also covers you here. Because the insurance continues to pay for a period of 10 years from the time the business is closed.
The BLI services at a glance:
Who is covered by business liability insurance?
The following persons are insured by the BLI:
There are only very few professional groups for which public liability insurance is required by law. These are doctors, architects, security companies, engineers and also showmen.
For all other professional groups - and therefore also for you and your business - business liability insurance is only recommended.
However, since claims for damages are almost always life-threatening, you should never do without BLI. Because you would be saving money in the wrong place.
We will be happy to tell you more about the consequences of not having business liability insurance and will of course also be happy to provide you with comprehensive advice on the benefits of this insurance that secures your company's existence.
For you as an entrepreneur, the liability goes even further. This is because you are also obliged to take responsibility for the consequences of your entrepreneurial activity. And not just for your own work, but also for any actions of your employees.
Of course, all of this is primarily about money. Because compensation is expensive and can easily run into the millions. An amount that no one simply has on hand. This makes industry-specific cover in the form of public liability insurance all the more important.
You can set the sum insured, also known as the sum insured, to either 5 million euros or 10 million euros. A sum insured of 20 million euros is also possible. It applies as a lump sum for personal injury, property damage and financial loss.
Many insurance companies also offer a so-called innovation guarantee. This means that if there are any improvements, this improved cover will automatically apply to you. And without any increased costs.
We recommend that you choose the sum insured so that even the most expensive claim is covered. As a rule, you are always on the safe side with a sum insured of 20 million euros.
We will be happy to work through all possible cases, examples and sums insured with you to find the optimum level of cover and sum insured for you. Because we know from many years of experience: No two companies and insurance needs are the same. That's why our insurance offers are always individual and perfectly tailored to your needs.
Of course, the premium amount is also of interest to you. This is influenced by several factors.
This is the most important factor when it comes to the amount of the insurance premium. This is because the sum insured determines the maximum amount that the BLI will pay out in the event of a claim.
We recommend a minimum sum insured of 20 million euros. This is because personal injury and consequential damage costs can quickly reach an amount that threatens your existence.
All of your company's employees are insured under BLI. And this is very important, as their work can also cause damage. And it is not your employees who are fully liable for this, but you as the company owner.
The insurance premium is also based on your annual turnover. This is simply to ensure that you can afford this insurance that secures your livelihood.
Example 1:
Example 2:
With regard to these premium examples, it is important to know that it naturally also depends on the insurance company. The premiums differ depending on the insurance company and its offers.
As independent insurance brokers, we always have a comprehensive overview of the entire insurance market. This enables us to find the insurance company whose cover and premiums best suit you and your business.
You work hard every day to ensure the success of your business. But what if something happens? Someone gets injured on your construction site or trips in your office. It’s even worse if the person then also claims loss of earnings because they can no longer work. Your excavator damages a pipe or something on your construction site tips over and damages other people’s property. Personal injury, property damage and financial losses result in extremely high compensation claims. And these then threaten your existence.
It is therefore particularly important to take out comprehensive business liability insurance for the construction industry. This is because it is the only way to protect you against the consequential costs of damage caused by you and your business.
As independent insurance brokers, we know our way around the insurance market. Thanks to our many years of experience, we know all the risks that you should insure against and therefore know what happens if you don’t have a business liability insurance policy. Let us give you comprehensive advice on the subject of public liability insurance. We will be happy to answer all your questions and provide you with a non-binding quote.
Thanks to our unrestricted access to the insurance market, you also benefit from practical combined insurance products. We will also be happy to advise you in this regard and work with you to determine your actual insurance requirements.
Another important insurance for business owners is, for example, business contents insurance. Have you ever thought about this important cover for your business?
You have certainly invested a lot in your business. Time and, of course, money. For equipping your business premises, an IT system and, of course, for your work equipment. But your business inventory is also exposed to risks every day. Be it a fire, a burst pipe or something else. Things can break far too quickly and expensive replacements become necessary. Are you prepared for this?
It is therefore very important that you insure your business and its equipment. With business contents insurance. This insurance is an absolute must-have if you want to protect yourself optimally. Because it covers damage to your business equipment.
It protects you against the financial consequences of damage to your business inventory. And best of all, this important insurance is also available tailored to your industry. Optimally insured? No problem! We’re also very familiar with business contents insurance and provide exactly the insurance cover that your company really needs.
Business contents insurance, or BCI for short, is also known as commercial contents insurance, business inventory insurance or inventory insurance. It covers damage to your business equipment and thus protects you against the financial consequences of damage.
This important insurance protects both your technical and commercial business equipment. But also goods, inventories and customer property.
Whether damage is caused by mains water, fire, storm, hail, vandalism or burglary, business contents insurance reliably protects you against the financial consequences.
Damage to your business equipment can also cause very high costs and therefore threaten your existence. This is because you have to have the damaged or even destroyed material assets repaired or even completely replaced in order to continue working. Do you really have that much money available to be able to cope with something like this?
Nothing will happen? A dangerous thought. Of course, we all hope that no harm will ever come to us. But what if it does? A fire in your workshop, a burst pipe, water damage. All this and much more threatens your business equipment and therefore your existence.
Protect yourself reliably against any damage to your inventory. With business contents insurance. Because with this insurance, you can face damaged or destroyed equipment with peace of mind. Because you are comprehensively covered with BCI.
Business contents insurance offers reliable insurance cover for the following inventory:
However, the insured items must have certain characteristics in order to be insured. They must
Insurance cover is only provided if these criteria are met.
The risks insured in the BCI
Business contents insurance protects you and your inventory against a variety of risks. For example, in the event of damage caused by
As you can see, BCI's cover is comprehensive. In a nutshell, it covers everything that is not explicitly excluded or otherwise insured in the insurance contract or the insurance conditions.
Do you have any questions? We will be happy to help you and go through all possible scenarios in the construction industry with you. For example:
Incidentally, the replacement value of the item is usually reimbursed. And this also applies to gross negligence.
These costs are insured
Now you know which risks are covered. But you would certainly also like to know which costs are covered by BCI in the event of a claim. You can find out now.
Business contents insurance covers, among other things, the costs of
Of course, business contents insurance also covers destroyed valuables of the business and cash, provided these items were in a locked safe.
Where does business contents insurance cover apply?
BCI insurance cover exists on your company premises, in your company buildings and also on transportation routes.
One component of BCI is external insurance. This guarantees that your inventory is also comprehensively insured outside your business premises. This means that your business items are also reliably insured during necessary repairs or on business trips. With this important option, however, it is important to check whether the external insurance cover applies throughout Europe or only in Germany.
In a nutshell: Business contents insurance pays out as soon as damage has occurred. Of course, only if this is included in the scope of insurance. However, it is important to know that the liability or benefit of BCI varies. It depends on whether the damage was caused innocently or whether it was caused by slight negligence or gross negligence.
However, some insurance companies offer optional additional cover for gross negligence. If this option is selected, the damage is fully covered even in the event of gross negligence.
Only damage caused by war or nuclear energy is always excluded from the insurance cover for business contents insurance. The same applies to damage caused intentionally.
The premium for business contents insurance is influenced by various factors. These include
The following applies to the sum insured: the higher the sum insured, the higher the insurance premium due. However, you should never try to save money here of all places. If the sum insured is set too low, there is a risk of underinsurance. And then it will be expensive for you in the event of a claim, despite the insurance.
As far as company risks are concerned, the more risks your company is exposed to, the higher the amount.
The higher the deductible, the lower the premium.
Optional additional benefits increase the premium, but at the same time enhance the insurance cover.
The payment frequency also has an impact on the premium amount. With most insurance companies, you can choose between annual, semi-annual, quarterly and monthly payments. The annual payment is usually the cheapest.
The contract term also influences the amount of the insurance premium. The shorter it is, the more expensive the insurance premium.
The optimum sum insured
For optimum protection, you need the right amount of insurance or cover. This is the maximum amount of money that the insurance company will pay out to you in the event of a claim. It is therefore extremely important to calculate this sum as accurately as possible. Only then will the insurance benefits be sufficient to cover all costs incurred in an emergency.
We recommend calculating the sum of all new values of your business equipment plus the value of all valuables and inventories as the sum insured.
When calculating the sum insured, also consider the costs that are not immediately obvious. For example, the costs of damage-related costs such as new flooring or the reinstallation of power lines and water. Due to these items, the sum insured should be set 10 % higher than the pure new furnishing value plus goods and supplies.
It is also important that there is no underinsurance. If the sum insured is too low, the insurance company may reduce the benefits in the event of a claim. This would be fatal, as in such a scenario you would possibly be left with a large part of the damage costs.
You must therefore make sure that the insurance contract contains a waiver of the defense of underinsurance. Only if this clause is included will the insurance company pay in full even in the event of underinsurance.
But what if something changes in your company's equipment stock? No problem, just let us know. We will then take care of everything else. And if you forget to notify us of the change and it results in damage? No problem, you won't suffer any disadvantages.
You have built up your company with hard work and invested a lot of energy, time and money. It is therefore important that you maintain the values you have invested. And that you don’t run the risk of having to start all over again after a loss.
Business contents insurance offers you comprehensive protection in the event of damage. This is because it covers the financial consequences of damage, such as repairs and new purchases.
Arrange a consultation with us and we will provide you with detailed information about this important cover. And we’ll also show you what a BCI tailored precisely to your needs means.
Many insurance companies also offer a combined product with public liability insurance and business contents insurance. Such a combined product combines the advantages of both insurances and also offers an attractive combined discount.
But be careful, don't be dazzled by this discount, but pay close attention to the price-performance ratio. We will of course be happy to support you and help you find the best combination product for you.
Here is a small contribution example for a BLI-BCI combination product:
Gross annual contribution: 482.03 euros
Technology plays a very important role not only in the private sphere, but also in professional life. This is also guaranteed in your company. From special company electronics to the company’s digital telephone system and computer networks to smartphones. Virtually all company processes are dependent on electronics. Damage to electronics would therefore be a disaster, also in financial terms.
So it’s all the better that there is a way to insure against this: Electronics insurance.
Do you think electronics insurance makes little sense in the construction industry? Then think about the areas of your business in which you can manage completely without electronics. There are certainly far fewer than you think.
Computer for necessary calculations, material orders and e-mail communication. The telephone system for personal customer communication and the smartphone for your constant availability. And electronics are needed for much more in your company. Because nowadays, nothing works without them. In addition to the specialist knowledge of you and your employees, the success of your business also depends to a very large extent on electronic systems and equipment. But what happens if they break down, need to be repaired or even replaced? In such a case, you will be faced with high costs.
Without insurance, you will have to bear these costs yourself. If you have electronics insurance, however, it will cover repairs and replacement. Electronics insurance is therefore a definite must-have for every company.
Because only with it are you optimally prepared for a claim. And thus protected against the consequential costs of damage.
If you take out electronics insurance, you receive what is known as all-risk cover. And that's very good, because with a few exceptions, all causes of damage to your systems and electronic devices are covered. The only exclusions are earthquakes, war and nuclear energy.
But now let's take a closer look at what is included in the insurance cover:
Electronics insurance offers a comprehensive scope of cover and therefore maximum security. It includes the following:
Your premium is always calculated individually by the insurer. Because no two companies are the same. In addition, the insurance premium depends on the sum insured selected, the value of your electronic business equipment, the types of devices and, of course, the amount of excess you choose.
As experts in this field, we will of course help you to achieve the most favorable premium for you. And without having to forego the best possible cover for you.
You don't need to list all your systems and electronic devices to calculate the right sum insured for your electronics insurance. A lump sum insured is absolutely sufficient.
But of course this also has to be calculated somehow. We are happy to help you with this. All we need is the replacement value of your operating facilities and technical equipment. We take care of the rest and determine the exact sum insured that is suitable for your company and provides you with optimum cover.
You can enhance your electronics insurance cover with optional extensions. For example, with additional modules such as
It can always happen that a data carrier is damaged. What follows are not only problems in business operations, but also high costs for data recovery and the repair or purchase of new programs. If the damage is related to electronic damage included in the scope of insurance, the additional module Electronic Software Insurance provides cover.
This practical additional module also protects against electrostatic charge, electromagnetic interference, operating errors, force majeure, overvoltage and malicious program changes by third parties.
If there is a business interruption due to an electronic fault, it is of course important to keep it as short as possible. After all, every day that you are unable to work means a loss for you. This is where the supplementary module electronics additional cost insurance can help. This supplementary insurance covers the costs of rental equipment, loaned equipment and replacement equipment that you can use to keep your business running.
This optional additional module protects you against loss of income due to business interruption if this is caused by electronic damage included in the scope of insurance.
We will be happy to advise you in detail on these important additional modules for electronics insurance. We know from practical experience how quickly electronic damage can occur. And our many years of experience and close cooperation with our customers have repeatedly shown us how well electronic damage can be overcome if the optimum insurance is in place.
Protect yourself and your business and find out more about electronics insurance and its optional additional modules. We will be happy to provide you with our expertise and help you find the best insurance cover for your company.
If an electronic fault occurs, devices and systems have to be repaired or even replaced. This is usually extremely expensive. In addition, the failure of electronic devices can also lead to a complete interruption of operations. Even minor delays can lead to a financial disaster. Are you prepared for this and do you have enough cash reserves to survive such a scenario unscathed?
Protect yourself now. With electronics insurance, you are also on the safe side in the event of damage and protected against the consequential costs.
We will be happy to determine your actual insurance requirements and provide you with an individual, non-binding quote. So you get the insurance cover you need. Comprehensive and tailored precisely to your needs. Benefit from our many years of expertise and our extensive access to the insurance market as an independent insurance broker.
As independent insurance brokers, we have many years of experience in the field of commercial insurance and insurance in the construction industry. We are therefore also aware that off-the-peg insurance cover is usually simply not suitable. For this reason, we offer protection that is not only comprehensive, but also a perfect fit. We insure you precisely tailored to your industry. With all the benefits that really make sense for you and your company.
We not only make sure you get the best possible protection, but also the ideal price. After all, the price-performance ratio must also be right. With us, you only pay for the protection that you and your company really need.
We always have the best result for you in mind and therefore also check the possibility of practical combined insurance policies. These offer comprehensive insurance cover by combining several insurance policies, coupled with an attractive price advantage as a combined discount.
With us, you are the center of attention, regardless of whether you are a construction company or an ancillary building trade. Because service is very important to us. With us, you always have a fixed contact person who you can turn to with questions and also in the event of a claim.
All our employees are experienced experts in the field of insurance. This guarantees uncomplicated and fast processing of the claim.
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