Types of Flyover on Land Sub-Categories
There are two type of flyover on land sub-categories covered:
- Span exceeding 15 meters
- Span not exceeding 15 meters
*The project period varies from 1 month to 24 months
Contractors All Risk Insurance for Flyover on Land: Inclusions
Contractors all risk policy for flyover on land covers the following perils:
- Damage caused due to lightning and fire
- Damage caused during riots, strikes
- Damage caused due to natural calamity such as flood, tempest, storm, inundation
- Damage caused due to collision, impact of any third-party vehicle or collapse
- Loss due theft or burglary
- Any kind of loss due to landslide, rockslide or subsidence
Contractors All Risk Insurance for Flyover on Land: Exclusions
Contractors all risk policy for flyover on land does not provide coverage for the following perils:
- In case of cessation of work whether partial or total
- If the material is defectiveÂ
- In case of inventory loss
- If the design is faulty
- Regular wear and tear of the machinery or any other equipment
- Loss or damage caused during war or any other related perils
- Any kind of loss or damage caused due to nuclear reaction, radioactive contamination or nuclear radiation
- Any kind of consequential losses
- Any loss or damage caused due to willful negligence or the policyholder or any willful act.
Contractors All Risk Insurance for Flyover on Land: Add-ons
The insurance companies offer several add-ons with contractors all risk insurance policy that the policyholder can purchase to enhance the existing coverage:
- Third-party liability coverage
- Contractor’s plant and machinery
- Surrounding property damage cover
- Earthquakes
- Construction equipment such as scaffolding, shuttering material, etc.
- Terrorism
- Maintenance visit or extended maintenance
- Removal of debris
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