- Contractor’s All Risks for construction of projects, Infrastructure Projects, Roads etc.
Contractor’s All Risks Insurance, more popularly known as CAR insurance is a specially designed insurance policy to protect the interests of the principals and contractors engaged in civil engineering projects like construction of residential/commercial buildings, warehouses, hospitals, schools, factory, cinema house/ theatres, roads, bridges, flyovers, dams, jetties, canals, tunnels, water reservoirs, ports, drainage and sewerage systems, pipelines, airports, aircraft hangers, power house buildings, etc.
CAR policy provides virtually a comprehensive cover for the entire civil engineering projects from the time of arrival of the first lot of materials at site and continues whilst the work is in progress and during the maintenance period thereafter. The cover provided is on an ‘All Risk’ basis i.e. every hazard is covered which is not specifically excluded. This means that sudden and unforeseen loss or damage occurring during the period of insurance to the property insured on the construction site will be indemnified.
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