Contractors All Risk Insurance for Interior Decoration: Inclusions
Contractors all risk insurance for interior decoration provides coverage for the following perils:
- Loss or damage due to fire or lightning
- Loss or damage because of strikes, riots, or any other malicious activity
- Loss or damage because of tempest, inundation, flood, storm, etc.
- In case of theft or burglary, the insurer will provide coverage
- In case of collision, impact or collapse, the insurer will provide coverage
- Loss or damage because of subsidence, rockslide or landslide
Contractors All Risk Insurance for Interior Decoration: Exclusions
Contractors all risk insurance for interior decoration does not provide coverage for the following perils:
- If the work is stopped partially or permanently
- Inventory losses will not be covered
- Wear and tear will not be covered
- Any consequential loss is not covered
- Any kind of damage caused due to faulty design where the interior decoration is happening
- Any kind of loss or damage caused due to poor or defective material
- Damage caused during war or any other related perils
- Willful negligence or misconduct of the insured that leads to any kind of loss or damage is not covered
- Damage caused due to nuclear reaction, nuclear radiation or radioactive contamination
Contractors All Risk Insurance for Interior Decoration: Additional Coverage
In order to enhance the coverage of your insurance plan, you will have to purchase the below mentioned add-ons:
- Earthquake
- Surrounding property
- Contractors plant and machinery
- Third-party liability
- Removal of debris
- Construction equipment like scaffolding, shuttering material, etc.
- Terrorism
- Maintenance visit & extended maintenance
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