Contractor's All Risk Insurance
The CAR Insurance policies generally issued for all types of civil Engineering projects
like, Dwellings, office building commercial buildings, Godowns and warehouses, Hospital,
Schools, all sort of factory buildings, cinemas, silos, stell structures, canal,
tunnels, Drainage systems, road and sewer systems, Hangers, Dams, Bridges, Water
supply lines, construction work in relation to Electric power houses, ports and
all others construction work depending upon merits of the contractors and quantum
of the project.
Scope of Cover
CAR insurance provides an ‘All Risks’ cover i.e. every hazard which is not specifically
excluded. This means that any sudden and unforeseen loss or damage occurring the
period of insurance to the property insured on the construction site will be indemnified
normally. The CAR Insurance Policy covers the following perils:
- Fire & Lighting
- Accidental damage during construction
- Water damage, Flood, Storm, Tempest, Inunolation Earth quake
- Collapse, Collision, Impact
- Theft & Burglary, Malicious Damage
- Subsidence, Land Slide, rock slide.