Contractor All Risk Insurance Policy

Contractors All Risk (CAR) policy is a comprehensive insurance solution designed to covers a broad spectrum of risks to which a civil construction project is exposed to from arrival of construction material at site till the completion of project.

This policy is especially designed keeping in mind contractors, consulting engineers, architects and financiers and insurers against unforeseen accidents.

Scope of cover

RESIDENTIAL

Houses
Apartments
Township
Cottages
Guest Houses

COMMERCIAL

Office Buildings
Multiplexes/Theaters
Hotels
Shopping centers
Malls
Sports Complexes

INSTITUTIONAL

Educational Institutes
Hospitals
Health care facilities
Research Institutes
Religious Buildings

BASIC COVERS

Fire/Explosion/Impact Damage/Collapse.
Storm/Tempest/Flood Inundation/Subsidence and Landslide.
Riot/Strike/Malicious Damage/Burglary/Theft.
Electrical/Mechanical Breakdown

ADD ON COVERS

Owners’ Surrounding Property
Removal of Debris
Earthquake/Terrorism
Escalation
Design Defect Cover
Breakage of Glass
Additional Customs Duty
Air-Freight
Express freight, Overtime charges, Holiday wages etc.
Express freight, Overtime charges, Holiday wages etc.
Contractors’ Plant & Machinery (upto 5% of CAR SI or Rs 25 lakhs whichever is
lower)
Third Party Liability
Third Party Liability
Free Issue of Materials issued by Principal.
Construction equipment like scaffolding, shuttering materials
Maintenance Visit or Extended Maintenance
Cover for insured contract works taken over or put into service.

SIGNIFICANT EXCLUSIONS

Cessation of work whether total or partial.
Defective Material and/or Workmanship.
Wear and Tear.
Inventory Losses
Faulty Design
War and Related Perils
Nuclear reaction, Nuclear radiation or radio active contamination.
Willful act or willful Negligence of the Insured.
Consequential Losses