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Contractor's All Risks Insurance
Contractor's All Risks Insurance

Contractor's All Risks Insurance is a comprehensive insurance policy specifically designed for contractors & builders to protect against the cost & liabilities arising from unforeseen losses to the building works, structures, etc. during the contract period.


Contractor's All Risk Insurance covers civil construction projects above or below ground such as:
Residential buildings Bridges
Office buildings Airports
HospitalsDams
SchoolsWeirs
TheatresIrrigation and drainage facilities
RoadsCanals
RailwaysPorts
Tunnels

In addition, the following will also be covered:

    Preparatory work at the construction site such as site facilities, excavation & leveling work and temporary structures (e.g. access roads, diversion canals,    protective embankments, etc.)

    Any materials to be used in the construction work stored at the site

What is covered by the Contractor's All Risks Insurance (CAR Policy)?

This is an 'All Risk' policy covering sudden and unforeseen physical damage to civil projects under construction insured by any cause or peril not specifically excluded under the policy. Important Perils which will be covered include:

    Fire and Allied Perils

    Flood, storm, tempest & cyclone

    Earthquake, fire & shock

    Collapse

    Water Damage for Wet Risks

    Faults in erection/ construction

    Human errors, negligence

Who are covered by the Contractor's All Risks Insurance (CAR Policy)? All parties involved in any way in the construction may be insured:

    Contractors

    Firms commissioned to carry out the work, including subcontractors

    The purchaser or owner

    Parties financing the project

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