CONSTRUCTION ALL RISK INSURANCE

What is Construction All Risk Insurance?

Construction All Risks insurance or Contractor All Risks insurance (CAR) is an insurance policy that would cover your company for its property damage and third-party liability in case of bodily injury or material damage claims.

Property damage can include improper construction of structures, damage during renovations, and damage to temporary structures for an event.

Businesses often use CAR insurance coverage for larger projects, including brick-and-mortar construction such as buildings, water tanks, sewage treatment plants, flyovers, airports, and temporary constructions for events like concerts and exhibitions.

What Does Construction All Risk Insurance Cover?

Section I: Material damage coverage includes:

Covers loss or damage to materials during the contract.
Covers debris removal costs.
Automatically increases coverage if the actual contract sum exceeds the estimated sum.

Section II: Third-party liability coverage includes:

Covers liabilities for accidental property loss during the contract.
Covers liability for bodily injury to visitors at the construction site.
Covers liabilities during the defect liability period after contract completion.
Covers property damage from vibration or weakening of supports.

Section III :Employee compensation coverage includes:

Covers employe injuries or illness due to thier work duties.