Contractor All Risk Insurance for Ground Leveling and Area Reclamation Work

Ground leveling and area reclamation works are highly risk-associated activities performed by the contractor. It requires a wide range of manpower and capital for ground leveling and area reclamation work. Thus, the contractor needs to purchase an insurance policy in order to mitigate the risk associated with the construction.

₹1 Lakh cover starting at ₹590/month⁺

Your shield for every construction project from

fire or theft

third-party injury

unforeseen site damages

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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 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

FAQs

Who can purchase CAR insurance for ground leveling and area reclamation work?
Ans: The policy can be obtained by the following persons.
- A contractor may subscribe to the CAR policy
- A company involved in construction work may purchase the CAR insurance policy
- A subcontractor may also obtain the CAR policy
- The companies financing such projects may also purchase the CAR policy
What are the benefits of the Contractor all risk insurance policy?
Ans: The CAR policy offers the following benefits.
- The policy indemnifies the insured against a lawsuit
- The policy offers coverage for the damage caused to the third party
- The insured may conduct the construction work smoothly
- Any material damage to the property shall be covered by the insurer
How do insurance companies calculate the risk?
Ans: In order to calculate the risk, the insurance companies consider the following.
- Scope of construction work
- Duration of construction work
- Location of construction work
- The severity of risk involved in the construction work