Contractors’ All Risks [CAR] Insurance protects the interests of principal, contractors, subcontractors and other relevant parties involved in construction activities.
The coverage under the policy is under two sections as below,
Coverage in this section includes,
Policy can be extended to cover existing surrounding property belonging to the principal.
This Section provides indemnity towards legal liabilities of the Insured to third parties arising out of performance of the contract works.
The policy can also be extended to cover contractual obligations during maintenance/defect liability period
Designed to cover the risk of loss arising out of the erection and installation of plant, machinery and liability to third parties
Covers plant, machinery and equipment against any unforeseen or sudden physical loss or damage
A combination of Marine Cargo and Erection All Risks insurance to protect principal, contractor, manufacturer and supplier