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Contractors All Risk
Contractors All Risk Policy
Contractors All Risks insurance (also termed as Contract Works insurance) is an insurance policy specifically designed for builders and a variety of other trades working at a contract site. Contractors All Risks insurance can comprise cover for public and employers liability, own plant, contract works, hired-in plant and employee’s tools. The key part of the contractors all risks insurance is the contract works section that offers cover for the value of the materials and property being used on a project.
Coverage is extended to:
Civil Engineering Contractors in the matter of works under construction.
Covers projects like Buildings and Civil Engineering Projects such as office buildings, hospitals, schools, theatres, etc. factories, Power Plants, Roads and Railway facilities, airports, bridges, dams, tunnels, etc.
EXCLUSIONS:
Civil Engineering Contractors in the matter of works under construction.
Covers projects like Buildings and Civil Engineering Projects such as office buildings, hospitals, schools, theatres, etc. factories, Power Plants, Roads and Railway facilities, airports, bridges, dams, tunnels, etc.
War Risks.
Normal Wear & Tear.
Rust, Corrosion, Erosion.
Inventory Losses.
Willful acts, Willful negligence.
Consequential losses.
Defective Material / Workmanship, Faulty Design.