Contractor All Risk Insurance for Airport Building

The construction of airport buildings is high-risk work. It requires a wide range of manpower and capital to build an airport building. Further, the construction is prone to several kinds of risk. To escape such risk, the contractor must purchase the contractor all risk insurance for the airport building.

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Contractor All Risk Insurance for Airport Building: Inclusions

The CAR insurance for airport buildings includes the following:

  • The CAR insurance for airport buildings covers the loss caused to the building due to construction faults
  • The insurer shall indemnify the policyholder against any damage caused to the building
  • The Contractor All Risk Insurance includes the loss or injury suffered by an employee or a third party
  • The policy covers the injury or loss sustained by the guest or visitors to the airport building
  • The loss caused due to the interruption of construction shall be covered by the contractor all risk insurance
  • Loss caused to the airport building due to fire or allied perils shall be covered by the contractor all risk insurance policy

Contractor All Risk Insurance for Airport Building: Exclusions

Contractor All Risk Insurance policy does not include the following:

  • Loss to the airport building caused due to war or nuclear explosions
  • The insured incurred a loss due to partial or total cessation of work
  • The insured suffered a loss due to his deliberate action
  • The loss caused to the airport building due to usage of defective material 
  • The loss caused to the building due to bad workmanship
  • Normal wear and tear shall not be included under contractor all risk insurance policy
  • Loss or damage caused to the hospital building due to faulty design

Contractor All Risk Insurance for Airport Building: Add-ons

The insured may avail of add-ons in the contractor all risk insurance policy. The add-ons under the such insurance policy are the following:

  • Damages or losses caused to the surrounding property of the airport building
  • Loss incurred by the insured due to shortage of material or inventory
  • Any bodily injury caused to the employee or a third party due to the removal of debris from the construction site
  • The insured may also add insurance for the equipment or machinery used in the construction of the airport building
  • The maintenance visit and maintenance cover can also be added by the insured

Contractor All Risk Insurance for Airport Building: Claiming Process

Following are the step which can be followed by the insured in order to file an insurance claim under the contractor all risk insurance policy:

  • Upon acknowledging any damage or loss caused to the property, the insured is mandated to inform the insurer via a phone call
  • The insured is also required to write a detailed email in order to make the insurer aware of the event
  • The written email or document must delineate about the damages or loss caused to the property
  • The insured should also inform the police or lodge a complaint in case of loss or damage caused due to theft or burglary
  • The insured is also required to minimise the loss to the best possible extent
  • The insurer shall appoint a surveyor in order to interpret the extent of loss or damage caused to the insured
  • The surveyor shall investigate the site and make a report
  • The report shall be sent to the insurer by the surveyor
  • The insurer, on the basis of the report submitted by the surveyor, shall either accept or reject the claim
  • The insurer shall provide the appropriate damages in case of approval of the claim

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Policybazaar for Business - Contractors All Risk Insurance - Customer Reviews
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4.2/5
Based on 28 reviews
4.2
out of 5
Based on 28 reviews
1 users
21 users
6 users
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0 users
3.8 February 22, 2023
Aditya
Compensate For Damages
I recently purchased Contractors All Risk Insurance from PolicyBazaar website and had a great experience with them. It was necessary to purchase this Insurance as I understand the risks and uncertainties of the job. However, with this policy, I found myself protected against a wide range of unforeseen events such as property damage, third-party liability and even employee injuries. Thanks to Policybazaar.
Allahabad
4.3 February 02, 2023
Umang
Quick Renewal
I recently purchased Contractors All Risk Insurance from PolicyBazaar and I am delighted to share my positive experience with this valuable policy. From the moment I initiated the process until the policy was in effect, PolicyBazaar demonstrated outstanding professionalism, reliability, and a genuine commitment to customer satisfaction. Thanks PB.
Jamshedpur
3.8 January 13, 2023
Astha
Time Saving Process
Throughout the process, I was consistently impressed by PolicyBazaar's exceptional customer service. Their representatives were friendly, knowledgeable, and always ready to assist me with any questions or concerns I had. They patiently explained the policy terms and conditions, clarifying even the most intricate details, which allowed me to make well-informed decisions regarding my coverage. I truly felt valued as a customer, and their dedication to ensuring my satisfaction was evident in every interaction.
Vadodara
4.3 December 24, 2022
Usha
Suitable Purchase
Recently we got a project to work on a site. I made sure that i get the contruction all risk insurance policy. A friend of mine suggested to purchase it from PolicyBazaar website so i went on their website and made the purchase without any hassle. It was a suitable purchase as it provided compensation for material damage and many more Thanks to PolicyBazaar.
Ludhiana
4.3 December 04, 2022
Simran
Provides Security To Material Damage
I recently purchased Contractors All Risk Insurance from PolicyBazaar which provides me peace of mind, knowing that projects are protected against unforeseen events. This allows me to focus on my work without constantly worrying about potential risks and liabilities. Thanks Policybazaar.
Kochi
4 November 14, 2022
Lovejeet
Knowledeable Staff
The staff at PolicyBazaar were knowledgeable and helped me choose the right policy that fit my specific needs. I highly recommend Contractors All Risk Insurance through Policybazaar for anyone involved in construction projects."
Coimbatore
4.3 October 25, 2022
Rahil
Peace Of Mind
I recently purchased Contractors All Risk Insurance through PolicyBazaar and I am so happy with the services I received during the buying process. Also, the policy provided me with peace of mind during my construction project, as it covered unforeseen damages to the project site, materials and equipment. The claims process was straightforward and hassle-free and the insurance company promptly reimbursed me for the damages I incurred. Thanks Policybazaar
Lucknow
3.8 October 05, 2022
Anuj
User Friendly Website
As a contractor, I was looking to buy Contractor all risk from the PolicyBazaar website online. So I went on their website and checked several details. It was well-maintained and described all the benefits in detail. I contacted their customer support and decided to buy from them. The website is really user-friendly and helpful. Highly Recommend. Thanks, PolicyBazaar.
Kolkata
4.5 October 01, 2022
Subh
Well Maintained Website
I was looking to buy contractor all-risk insurance that protects property from any damages and landed on the policybazaar website. It is well written & maintained website and provided all the necessary information. The add-ons are also affordable and provide extra protection.
Delhi
4.5 September 30, 2022
Neeraj
All In One Policy
Unique perks, low premium, great customer support, and a claim settlement process are a few things that we have experienced with policybazaar. We bought a contractor all-risk policy last year and raised a claim for an incident. The process was simple and the claim was reimbursed in a few days.
Jaipur