Contractor All Risk Insurance for RCC Construction

Contractor All Risk Insurance for RCC Construction: Inclusions

The CAR insurance policy for RCC construction includes the following.

• Any loss or damages caused to the policyholder due to construction faults
• Any loss or damage caused to the third party due to the negligible act of the insured or his employees
• Any loss or damage caused to the RCC or flyover
• Any loss or damage caused to the insured due to the interruption in the execution of construction of RCC Road or flyover
• Any loss or damage caused due to storm, cyclone or allied perils
• Any loss or damage incurred by the insured due to the legal suit initiated by an aggrieved party

Contractor All Risk Insurance for RCC Construction: Exclusions

The contractor's all risk insurance policy for RCC construction does not provide any coverage in the following cases.

• Loss or damage caused to the policyholder due to the utilization of defective materials
• Loss or damage caused to the policyholder due to bad workmanship
• Loss or damage caused to the insured due to fault design
• Loss or damage caused to the insured due to war or nuclear explosions
• Loss or damage caused to the insured due to his deliberate actions
• Loss or damage caused to the policyholder due to contractual liability
• Normal wear and tear shall not be included in the contractor all risk insurance policy

Contractor All Risk Insurance for RCC Construction: Add-ons

The insured may extend the policy coverage by adding the following.

• The insured may add the loss or damage caused to the surrounding property
• The insurance companies provide additional coverage for construction equipment and machinery used in order to construct the RCC Road or flyover
• The policyholder may add coverage for the disappearance or shortage of inventories
• Maintenance visits and maintenance cover can be obtained by the insured as additional coverage
• Any bodily injury suffered by an employee or workmen or a third party may also be added to the contractor all risk insurance policy for RCC construction

Contractor All Risk Insurance for RCC Construction: Claiming Process

The policyholder may follow the below-mentioned steps in order to file a claim under Contractor all risk insurance for RCC construction.

• The insured is required to inform the insurance company about the event that has taken place
• The policyholder must submit a written statement about the loss or damages caused to the premises of RCC construction
• The policyholder may lodge a complaint in the police station in case of theft or burglary of the construction equipment
• The insured must fill out the claim application form
• The policyholder is required to provide pictures or videos of the event if available
• All the necessary documents must be attached to the claim application form
• The insurance company shall appoint a surveyor in order to verify the validity of the event claimed by the policyholder
• The insured must cooperate with the surveyor and answer all necessary questions asked by the surveyor
• The surveyor shall make a report after investigating the event
• The surveyor shall submit the report to the insurance company
• The insurance company shall provide the appropriate damage based on the report submitted by the surveyor

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