Insurances

Architects Insurance

Both the Architect and Building Engineer must have a Civil Liability insurance in case there is any claim against them. It covers their activity in general, and any specific project they are involved in as project executor or Dirección Facultativa.

Construction All-Risk Insurance

This is a very wide insurance that covers accidents to personnel and site visitors, building/property damage, fire, and theft that may occur during the building works. More premium versions of this type of insurance can also cover the contractor for public liability related to accidental damage to any third parties. This insurance is mandatory for the construction company.

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Defects Insurance

This is a 10-year guarantee policy for all the building works; it is legally required for all new property builds on sale. The Technical Control Body (Organismo de Control Técnico (OCT)) performs regular checks during the project to certify proper and legal building practices. There are different levels of coverage, from basic to comprehensive. This insurance is essential in the event of selling the property within 10 years. Without this insurance, you cannot sell your property within 10 years of being constructed.