Contractors All Risk Policy

Contractor's All Risks (CAR) policy is a package policy which seeks to cover all risks that construction firms are exposed to. It provides cover for contract works, materials or any part thereof that shall suffer any unforeseen and sudden physical loss or damage from any cause, other than those specially excluded; in a manner necessitating repairs or replacement as well as third-party claims in respect of property damage or bodily injury arising in connection with the execution of an construction project.. A CAR policy may be concluded by the principal or by the contractors engaged in a project, including all sub-contractors.

It can be extended to cover Plants and Machinery used to carry out the contract work.

Also cost involved for the Removal of Debris after a loss can also be covered if a limit for the exercise is provided.

In addition, it is possible to extend the period of cover to include a maintenance period.

Maintenance visits cover

Our liability during the maintenance period is limited to loss or damage caused by the insured in the course of the operations carried out for the purpose of complying with the obligations under the maintenance provisions of the contract.

The most important causes of losses covered under CAR insurance are:

  • Fire, lightning, explosion
  • Flood, inundation
  • Windstorm of any kind
  • Earthquake
  • Theft, burglary
  • Bad workmanship, lack of skill, negligence, malicious acts or human error

Information required to obtain a quote:

  • Conditions on and exposure of the site (e.g. atmospheric and tectonic conditions, such as the probability of windstorm, earthquake, flood, inundation, fire hazards)
  • Design features and building materials
  • Construction techniques
  • Safety factors considered in the construction time schedule
  • Measures provided to ensure safe execution of the project

Third Party Liability Cover:

It indemnifies the insured against all such sums which the insured shall become legally liable to pay as damages arising out of:

a) accidental bodily injury to or illness of third parties whether fatal or not and accidental loss of or damage to property belonging to third parties occurring in direct connection of the contract and happening on or in the immediate vicinity of the site.

In addition to pay compensation in respect of the above losses the company will indemnify the insured against:

a) all costs and expenses of litigation recovered by any claimant from the insured.

b) All costs and expenses incurred with the written consent of the insurers.

Construction projects are diverse in nature and some may need to be customised. We can customise our policies to meet special needs or requirements.

Information required to obtain a quote:

  • Limit of Third Party Liability cover required