This insurance is designed to provide coverage for all parties involved in a construction project.

A Contractors' All Risks (CAR) insurance is one of the contract insurance that covers all losses or damages involved in the performance of a construction project, subject to its policy exclusions, terms and conditions.

There are usually three parties to the CAR insurance are; the Contractor, the Principal (employer, owner or developer) and the Insurance Company. Job orders and all contract works are usually offered by the principal by way of a tender.

The Principal is the party who commissions the work. The principal will usually be the party who owns the building when completed. The contractor is responsible for the planning and execution of the contract works. Where nominated sub-contractors or other sub-contractors are engaged, they can be included under the policy.

There are two sections in this Policy:

Section I: Material Damage

This Section provides cover for loss or damage to the contract works caused by any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded.

Section II: Third Party Liability

This Section provides indemnity for the insured’s legal liability for accidental bodily injury or property damage to third parties occurring in direct connection with the contract works.

For more sophisticated operations, you would require a specially customised insurance program that offers maximum protection and flexibility.

A Contractors' All Risks Insurance normally comes with Workmen Compensation Coverage. Our team of professional staff is well versed to provide you with all the necessary guidance and advice. Contact us or get a FREE quotation for your project.