Delta Lloyd has improved its Self (Re-) Build Insurance (VEW) in a number of essential areas. This insurance product provides a comprehensive solution for insuring against all risks associated with the building and re-building of a property.
Delta Lloyd has improved its Self (Re-) Build Insurance (VEW) in a number of essential areas. This insurance product provides a comprehensive solution for insuring against all risks associated with the building and re-building of a property. Material damage to the structure of the building during the period of (re-)building can be insured quickly and easily on-line for up to €500,000. In addition, liability is also insured.
The main modifications are:
- Additional insurance during maintenance period. Under the renewed conditions, a maintenance period agreed in the specifications or acceptance agreement is also insured for a standard three months. This was not previously covered by the insurance.
- Maximum period of building works. The insured period of building works for new builds and re-builds is henceforth a standard 12 months and can be extended up to 18 months. The period of building works was a maximum of 12 months for new builds and six months for re-builds.
- Category I higher insured sums (the work). It is now possible to insure works for up to €500,000. The maximum insured sum was €250,000.
- Additional insurance for pile-working. If pile-working is undertaken for pile foundations, this is also insured as standard in certain circumstances. In other cases we will determine under what conditions the pile-working activities may be insured.
- Additional insurance of extra housing costs. Extra housing costs incurred due to delay to planned delivery deadlines through damage, can also be insured up to a maximum sum of €1,250 per month. This was not possible previously.
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