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Contractor’s All Risks

Contractor’s All Risks (CAR) Insurance that covers civil construction projects above or below ground such as residential and office buildings, hospitals, schools, theatres, roads, railways, bridges, tunnels, airports, dams, weirs, irrigation and drainage facilities, canals and ports. The Contractor’s All Risks Insurance provides comprehensive insurance solution covering a wide range of risks to which a civil construction project is exposed to, starting from arrival of construction material at site till completion of project. This policy is extremely useful for contractors, consulting engineers, architects and financiers because it contribute to reducing the overall construction expenses offering them protection against unforeseen accidents leading to financial losses under a single policy. In addition the following will also be covered:-
  • Preparatory work at the construction site such as site facilities, excavation and leveling work and temporary structures (e.g. access roads, diversion canals and protective embankments)
  • Any materials to be used in the construction work stored at the site
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This is an 'All Risk' policy covering sudden and unforeseen physical damage to civil projects under construction insured by any cause or peril not specifically excluded under the policy. Important Perils which will be covered include:
  • Fire and Allied Perils
  • Flood, storm, tempest & cyclone
  • Earthquake, fire & shock
  • Collapse
  • Water Damage for Wet Risks
  • Faults in erection/ construction
  • Human errors, negligence
All parties involved in any way in the construction may be insured:
  • Contractors
  • Firms commissioned to carry out the work, including subcontractors
  • The purchaser or owner
  • Parties financing the project

What are the Exclusions under the CAR policy?

  • War and Nuclear risks
  • Willful Act or Willful Negligence of the Insured
  • Partial/total cessation of Work
  • Defective material or bad workmanship
  • Normal wear and tear
  • Normal Maintenance or Making Good
  • Loss or damage due to faulty design
  • Disappearance or shortage (inventory losses)
  • Contractual liabilities
  • Consequential losses

What are the Add on coverages under a CAR policy?

  • Express freight, Holiday and Overtime
  • Air freight
  • Breakage of glass
  • Additional customs duty
  • Removal of debris
  • Earthquake
  • Escalation
  • Storage at Fabricator’s Premises/ Workshop
  • Construction, plant & machinery
  • Cross liability
  • Third party liability
  • Maintenance visits cover and Extended Maintenance
  • Owner’s surrounding property
  • Terrorism

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CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2025