Contractors All Risk Insurance for Residential & Commercial Building

Contractors all risk insurance for residential and commercial building provides coverage against any loss or damage caused to the construction machinery, equipment or construction plant during the construction of the building. The policy also covers third-party claims arising due to bodily injury or property damages.

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Types of Residential & Commercial Building Sub Categories 

Here is a list of sub categories under Contractors all risk insurance for Residential & Commercial building:

  • Other than RCC & exceeding 2 storeys and up to 5 storeys
  • Other than RCC and not more than 2 storeys
  • RCC framed structure above 5 storeys and up to 10 storeys
  • RCC framed structure above 10 storeys and up to 15 storeys
  • RCC framed structure above 15 storeys and up to 25 storeys
  • RCC framed structure above 25 storeys and up to 30 storeys
  • RCC framed structure above 30 storeys and up to 40 storeys
  • RCC framed structure above 40 storeys and up to 50 storeys

*The project period varies from 1 month to 24 months

Contractors All Risk Insurance for Residential & Commercial Building: Inclusions

Contractors all risk insurance for residential and commercial building provides coverage for the following:

  • Loss or damage caused due to fire and lightning
  • Loss or damage caused due to Riot/Strike/Malicious activities
  • Loss or damage caused due to flood, storm, Inundation, tempest
  • Loss or damage caused due to collision, collapse or impact
  • Loss due to theft & burglary
  • Loss or damage due to landslide, rockslide or subsidence

Contractors All Risk Insurance for Residential & Commercial Building: Exclusions

Contractors all risk insurance for residential and commercial building does not provide coverage for the following:

  • In case of cessation of construction work whether total or partial
  • Regular wear and tear 
  • Inventory losses are not covered
  • Loss or damage caused due to faulty design
  • Loss or damage is caused due to war or other related perils
  • Loss or damage caused due to defective material
  • Loss or damage due to nuclear reaction, radioactive contamination or nuclear radiation
  • Loss or damage caused due to willful misconduct or negligence of the insured
  • Any kind of consequential loss

Contractors All Risk Insurance for Residential & Commercial Building: Additional Coverage

Here are some of the additional coverages provided under Contractors All Risk Insurance for Residential & Commercial Building:

  • Third-party liability
  • Contractors plant & machinery
  • Surrounding property
  • Earthquake
  • Terrorism
  • Maintenance visit or extended maintenance
  • Construction equipment like shuttering material, scaffolding, etc.
  • Removal of debris

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Written By: PolicyBazaar - Updated: 23 January 2023
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Policybazaar for Business - Contractors All Risk Insurance - Customer Reviews
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4.2/5
Based on 28 reviews
4.2
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Based on 28 reviews
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3.8 February 22, 2023
Aditya
Compensate For Damages
I recently purchased Contractors All Risk Insurance from PolicyBazaar website and had a great experience with them. It was necessary to purchase this Insurance as I understand the risks and uncertainties of the job. However, with this policy, I found myself protected against a wide range of unforeseen events such as property damage, third-party liability and even employee injuries. Thanks to Policybazaar.
Allahabad
4.3 February 02, 2023
Umang
Quick Renewal
I recently purchased Contractors All Risk Insurance from PolicyBazaar and I am delighted to share my positive experience with this valuable policy. From the moment I initiated the process until the policy was in effect, PolicyBazaar demonstrated outstanding professionalism, reliability, and a genuine commitment to customer satisfaction. Thanks PB.
Jamshedpur
3.8 January 13, 2023
Astha
Time Saving Process
Throughout the process, I was consistently impressed by PolicyBazaar's exceptional customer service. Their representatives were friendly, knowledgeable, and always ready to assist me with any questions or concerns I had. They patiently explained the policy terms and conditions, clarifying even the most intricate details, which allowed me to make well-informed decisions regarding my coverage. I truly felt valued as a customer, and their dedication to ensuring my satisfaction was evident in every interaction.
Vadodara
4.3 December 24, 2022
Usha
Suitable Purchase
Recently we got a project to work on a site. I made sure that i get the contruction all risk insurance policy. A friend of mine suggested to purchase it from PolicyBazaar website so i went on their website and made the purchase without any hassle. It was a suitable purchase as it provided compensation for material damage and many more Thanks to PolicyBazaar.
Ludhiana
4.3 December 04, 2022
Simran
Provides Security To Material Damage
I recently purchased Contractors All Risk Insurance from PolicyBazaar which provides me peace of mind, knowing that projects are protected against unforeseen events. This allows me to focus on my work without constantly worrying about potential risks and liabilities. Thanks Policybazaar.
Kochi
4 November 14, 2022
Lovejeet
Knowledeable Staff
The staff at PolicyBazaar were knowledgeable and helped me choose the right policy that fit my specific needs. I highly recommend Contractors All Risk Insurance through Policybazaar for anyone involved in construction projects."
Coimbatore
4.3 October 25, 2022
Rahil
Peace Of Mind
I recently purchased Contractors All Risk Insurance through PolicyBazaar and I am so happy with the services I received during the buying process. Also, the policy provided me with peace of mind during my construction project, as it covered unforeseen damages to the project site, materials and equipment. The claims process was straightforward and hassle-free and the insurance company promptly reimbursed me for the damages I incurred. Thanks Policybazaar
Lucknow
3.8 October 05, 2022
Anuj
User Friendly Website
As a contractor, I was looking to buy Contractor all risk from the PolicyBazaar website online. So I went on their website and checked several details. It was well-maintained and described all the benefits in detail. I contacted their customer support and decided to buy from them. The website is really user-friendly and helpful. Highly Recommend. Thanks, PolicyBazaar.
Kolkata
4.5 October 01, 2022
Subh
Well Maintained Website
I was looking to buy contractor all-risk insurance that protects property from any damages and landed on the policybazaar website. It is well written & maintained website and provided all the necessary information. The add-ons are also affordable and provide extra protection.
Delhi
4.5 September 30, 2022
Neeraj
All In One Policy
Unique perks, low premium, great customer support, and a claim settlement process are a few things that we have experienced with policybazaar. We bought a contractor all-risk policy last year and raised a claim for an incident. The process was simple and the claim was reimbursed in a few days.
Jaipur
28 Review Item
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