All-risk construction insurance Spain

Taking out all-risk construction insurance before starting the build

An all-risk construction insurance policy in Spain must always be in place before construction work begins. This ensures you are not left uninsured against damages during the building process. Banks and contractors often require proof of insurance before they start.

Coverage of an all-risk construction insurance during the build

An all-risk insurance policy covers damage to the construction itself as well as from external causes, such as storms or theft of materials. Damage caused by subcontractor errors can often be included as well. Always check the policy conditions for exact coverage.

Difference between all-risk construction insurance and construction liability insurance

An all-risk construction insurance is not the same as a construction liability insurance. The first covers damage to the project itself, while the second only covers third-party damage. For full protection during the build, both are often needed.

All-risk insurance required by many contractors and mortgage lenders

Many contractors and banks require an all-risk construction insurance to limit financial risks. Without insurance, your building project may face delays. Taking out a policy early prevents administrative issues.

Converting the insurance after project completion (fin de obra)

After the construction is completed, the all-risk insurance must be terminated or converted. You then take out a regular building and contents insurance for the property. This way, you remain fully covered against fire, water damage, and burglary.

Expert advice for your construction insurance

At IFAR, specialists are ready to advise you on the right coverage for your project. This helps you avoid delays and financial risks during your construction or renovation. With expert advice, you are always properly insured.