Contractors All Risk Policy (CAR)

Contractor’s All Risk (CAR) is designed to protect the interest of civil contractors and Firms involved in construction activity against the damage or destruction of various civil engineering projects undertaken by them. The policy is suitable for all types of civil engineering construction works ranging from small buildings to massive dams as they are susceptible to damage by a variety of external and internal causes during the course of construction.     

Coverage:

• This is a comprehensive policy designed to cover all risks associated with civil works right from the time of commencement of works at site till the contract works are taken over or put into use.
• Fire / lightning.
• Accidental damage during construction like dropping or falling, defective workmanship and material, lack of skill, negligence, malicious act and human error.
• Act of God perils such as flood and inundation, earthquake.
• Collapse, collusion, impact.
• Theft and burglary, malicious and terrorist damage.

Add-On Coverage:

1. Coverage of construction equipments like block pulleys, drilling machine and welding machine
2. Maintenance visit or extended maintenance cover
3. Debris Removal Expenses
4. Air Freight & Express Freight
5. Free automatic reinstatement upto 10%

Exclusions:

1. Cessation of work whether total or partial.
2. Defective Material and/or Workmanship.
3. Wear and Tear.
4. Inventory Losses
5. Faulty Design
6. War and Related Perils
7. Nuclear reaction, Nuclear radiation or radioactive contamination.
8. Willful act or willful Negligence of the Insured.
9. Consequential Losses