CAR Policy for Ground Leveling and Area Reclamation Work: Inclusions
The insurer covers the following risks in the contractor all risk policy:
- CAR policy includes the loss caused due to floods
- The insurer shall provide coverage for the loss caused due to wind
- Loss caused due to water damage shall be covered under the CAR policy
- The act of negligence is covered under the CAR insurance policy
- The insured incurring the loss due to construction fault shall be covered under the CAR insurance policy
CAR Policy for Ground Leveling and Area Reclamation Work: Exclusions
The following losses shall not be covered under contractor all risk insurance policy:
- The CAR insurance shall not include any claim for intentional damage to the property
- The CAR insurance policy shall not provide any coverage for the loss caused due to partial or total cessation of construction work
- The policy does not offer any coverage for the loss caused due to defective material utilized in the construction work
- The policy does not cover the insured for the loss caused due to bad workmanship
- Normal wear and tear shall not cover under the CAR policy in construction
- Loss and damage to the property caused due to faulty design shall not be covered under the CAR policy
CAR Policy for Ground Leveling and Area Reclamation Work: Add-ons
The policyholder may enhance the policy by allocating additional premiums to the CAR policy in construction:
The insured may extend the scope of the policy by adding the following.
- Damage caused to the surrounding property due to the construction work
- Loss caused due to the removal of debris
- Damage caused to the property due to an earthquake
- Losses incurred due to the delay in a startup because of the loss caused to another insured property
Claiming Process in CAR Insurance for Ground Leveling and Area Reclamation Work
The insured may follow the steps mentioned below in order to file a claim:
- Inform the insurer with regard to the damage or loss caused to the property via phone
- Upon intimating via phone, the insured must notify the insurer in writing via email
- The insured must lodge an FIR if the loss has been incurred due to the theft or burglary
- Upon acknowledging the written and oral submission of the insured, the insurer shall appoint a surveyor
- The investigator shall survey the site and interpret the damage
- The insured must duly fill out the form of claim and submit it along with the necessary documents
- If the surveyor finds the claim valid, the report shall be submitted to the insurer
- Later, the insurer shall release the claim
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