The Contractor's All Risk policy provides comprehensive coverage against any kind of loss or damage caused to the contract-based workers as well as equipment and construction plant. This policy also provides coverage for third-party claims in respect of bodily injury or property damage. This makes it a beneficial insurance option for architects, engineers and financiers involved in construction projects. By reducing the overall expenses of construction, this policy can help to ensure that projects are completed on time and within budget.Read more
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*Premium may vary on the basis of business activity, type etc
Here are some of the features and benefits of the Contractor’s all risk insurance:
Contractor's All Risk insurance cover the following:
Contractors all risk cover provides coverage for the property lost, damaged or destroyed by any cause, other than those specifically excluded in the policy, necessitating replacement or repair. The policy will pay for all such loss or damage up to an amount not exceeding the sum specified in respect of each of the items and not exceeding the total sum insured.
Here is the contractor all risk policy coverage against third-party liabilities:
Perils covered under Contractor's All Risk insurance include:
The contractor’s all risk insurance policy does not provide coverage for the following:
Policyholders have the option to enhance their coverage by purchasing the following add-ons offered by the insurer.
A policyholder can extend his/her policy to get the following cover as an add-on:
Contractors all risk insurance policy is specially designed for protecting civil contractors against the destruction or damage of different construction projects like offices, hospitals, channels, tunnels, etc. Any accidental damage to these projects or the plants of the contractor or machinery is covered in this kind of policy. Some of the benefits of a contractor's all risk insurance policy are:
Comprehensive Liability Insurance
Contractual Liability Insurance
Corona Group Insurance
D&O Liability Insurance
Employee Wellness Programs
Erection All Risk Insurance
E & O Insurance
Group Health Insurance
Best Group Health Insurance
Group Personal Accident Insurance
Group Travel Insurance
Group Life Term Insurance
Contractor's Plant & Machinery
Professional Indemnity Insurance
Public Liability Insurance
Workmen Compensation Policy
Contractor's All Risk insurance can be availed by those who are involved in any way in the construction business, such as:
You can also cover all participants under a single insurance contract for the whole project to avoid gaps in coverage.
The buyer can calculate the premium amount using the contractor’s all risk insurance calculator. The buyer can visit the Policybazaar Insurance Brokers Private Limited’s website, fill in the required details such as the sum insured amount, add-ons, etc. and the contractor all risk insurance calculator will provide the buyer an estimate of the premium amount that has to be paid annually to stay covered under the insurance plan.
Follow the below steps to file a claim for the contractor's all risk policy:
Make sure to follow the steps given below to renew your Contractor’s All Risk insurance policy:
1. Damage or loss incurred due to the nuclear reaction.
2. Damage or loss incurred due to faulty design.
3. Damage or loss incurred due to war or war-like situations.
4. Consequential losses.