What is Contractors All Risks (CAR) Insurance
Contractors All Risks insurance is property insurance for any building or civil engineering project.
- Cover on site during construction period and, if required, during maintenance period (Section I)
- Legal liability to third parties can be included (Section II)
- Principal’s loss of profits can be included (Section III)
- Project is exposed to risks beyond control of contractor
- Fire, lightning, explosion, extinguishing water or other fire fighting measures
- Flood, inundation, rain, snow, avalanche, tsunami
- Windstorm of any kind
- Earthquake, subsidence, landslide, rockslide
- Lack of skill, negligence, malicious acts or human error
What’s not covered
- War and War like risks
- Nuclear Risks
- Gross negligence of Insured
- Cessation of work, total or partial
- Consequential losses
- Faulty design
- Defective material and or workmanship
- Wear and tear, etc.
- Files, drawings, etc.
- Losses discovered at time of taking inventory
- Vehicles licensed for general road use
What’s optionalChoose optional add-ons at an additional cost to create cover that suits you.
- Political Violence and Terrorism: Cover against political violence and terrorism
Other types of insurance cover
You will need contents insurance, sometimes known as all risk cover, for items for which you require cover out with the home. Please provide details of these items at the time of quotation to ensure that the policy provided meets with your requirements.
Accidental Damage cover provides protection against costs incurred through damage that you, your family members or visitors may cause to the structure of your Building or to your Contents. Examples of incidents which would be covered under this extension include putting your foot through the loft floor damaging the ceiling below, leaving a tap running leading to water damage or carpet spillages. Such incidents would not be included under a policy taken out to cover Standard Perils only.
Additional charges will apply and in certain circumstances this cover might not be available.
Items kept in the garage or garden sheds will be covered under the Contents section of your policy provided you have included their value in the total sum insured declared. Limits may apply to the amount that can be claimed for theft of items taken from outbuildings and additional charges may be made for certain items such as ride on mowers. Cover for motor vehicles and motorcycles is excluded. Please declare your requirements for cover kept in outbuildings at the time of quotation to ensure that the policy provided meets with your requirements.
In most cases you will need to arrange cover for your own contents and personal possessions. Please refer to your tenancy agreement to check what, if any cover is provided by your landlord.
An excess is the amount a policyholder is required to pay towards the cost of any claim. You may be asked to pay this amount to a company that has carried out repairs on behalf of your insurer, or alternatively the sum will be deducted from any settlement received.
- Ensure you declare a list of items to be insured under contents insurance including serial numbers, model, make and have the correct sum insured
- Always keep valuables safely and locked out of site to protect against the risk of theft