Contractor All Risk Insurance
Contractor’s All Risk Insurance covers civil works like construction of roads, bridges, dams, high rises, housing projects etc.,against any sudden and unforeseen loss or damageinvolved in the construction of civil works of any kind, construction plant & equipment and construction machinery as well as surrounding property and third-party claims in respect of property damage or bodily injury arising in connection with the execution of a project.
The CAR Insurance Policy provides cover against a wide range of perils. Some of the covered perils are.
- Fire, lightning, explosion, aircraft damage
- Riot, strike, malicious act
- Flood, inundation, storm, cyclone and allied perils
- Landslide, subsidence and rockslide
- Burglary and theft
- Human errors
- Short circuiting, arcing, excess voltage
- Collapse, damage due to foreign objects, impact damages