Contractors All Risk Insurance for Hospitals

Construction of any building comes with several risks which may incur a loss to the contractor. In order to mitigate such losses, a contractor must obtain indemnification by subscribing to the contractor all risk policy. Hence, the CAR policy is essential for a contractor.

₹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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Contractors All Risk Insurance for Hospitals: Inclusions

The CAR insurance policy covers the following losses:

Loss caused to the insured due to construction faults shall be covered by the CAR insurance policy

Coverage against the damage to the property of the hospital shall be covered by the CAR policy

CAR policy offers coverage against the injury or loss sustained by a third party

The policy indemnifies the insured against the liability to the guest or employees of the hospital

The CAR policy provides coverage for the loss incurred due to the interruption of the construction work

Loss caused to the property due to fire or allied perils shall be covered by the CAR insurance policy

Loss caused to the construction site due to cyclone or flood is subject to be covered by the insurer

Any human error or negligence is covered by the CAR policy

Contractors All Risk Insurance for Hospitals: Exclusions

A normal tear or wear is not subject to be covered under the CAR policy

The CAR policy does not provide any coverage for the intentional or willful negligence

No coverage shall be provided in case of poor workmanship

The insurer is not liable to provide any coverage in case of utilization of defective material in the construction work

Loss or damage caused to the property due to faulty design shall not be covered under the CAR policy

The partial or total cessation of work is not covered under the CAR insurance policy

Contractors All Risk Insurance for Hospitals: Add-ons

The CAR insurance policy can be extended by making the following additions:

Damage or loss caused to the surrounding property

Insurance for construction equipment can be added in the existing insurance policy

Loss caused due to shortage of inventory

Injury or damage caused due to the removal of debris

Loss incurred due to earthquake

Claiming Process for Contractor All Risk Insurance for Hospital

Following are the steps which are required to be followed by the insured in order to file a claim:

The insured should immediately notify the insurer about the loss or damage caused

The insurer must submit a written submission to the insurer with regard to the event of damage or loss

The written document must include the extent of the loss or damage caused to the property

The insured must try to minimize the loss as much as possible

The insurer must inform the police or an appropriate authority. He must lodge an FIR or complaint in case of theft or burglary

The insurer shall appoint a surveyor in order to analyze the loss

The insured must cooperate with the surveyor and make him acquainted with the event

The surveyor shall make a report of the event and submit it to the insurer

The insurer shall indemnify the insured

FAQs

Who needs a contractor for all risk insurance for hospital?
Ans: The following persons need contractors for all risk insurance policies in construction.
- A contractor needs the CAR policy
- A company or organisation involved in the construction of a hospital needs to subscribe to the CAR policy
- A subcontractor is required to buy the CAR policy
- The cooperation or companies financing such projects must subscribe to the CAR policy
When should an insured inform the insurer about the accident caused to the construction work of the hospital?

Ans: The insured must indemnify the insurance company for the damage immediately after the accident has caused to the property.
What documents are required to be attached to the claim form of contractor all risk insurance?
Ans: The following documents must be attached to the claim form.
- A copy of FIR in case of theft or burglary
- Photos of the event
- Videos of the event
- Copy of CAR insurance policy
Can a policyholder add general liability insurance to the existing CAR insurance policy?

Ans: Yes, an insured may contact the insurer and add such coverage to the existing insurance policy.