Contractors All Risk Insurance for Road & Bridges on Land

Contractors all risk insurance for road and bridges on land provides coverage for the loss or damage caused to the machinery and other equipment that are to be used in the construction work. Apart from this the insurance plan also covers construction plant during the construction of the road and bridges. Construction all risk insurance provides coverage for the third-party liability claims for bodily injury and property damage.

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Types of Roads and Bridges Sub-categories

There are 3 sub categories under Roads and Bridges. They are as follows:

RCC and Pre-stressed concrete
Steel
Other materials

*The project period varies from 1 month to 24 months

Contractors All Risk Insurance for Road and Bridges: Inclusions

Contractors all risk policy for Road and Bridges covers the following perils:

Damages caused by fire or lightning
Damages caused due to riots or strikes
Loss or damage caused due to tempest, floods, inundation, storm, etc.
Loss due to theft or burglary
Loss or damage caused due to collision, collapse, impact
Loss or damage caused due to rockslide, landslide or subsidence

Contractors All Risk Insurance for Road and Bridges: Exclusions

Contractors all risk policy for Road and Bridges does not provide coverage for the following perils:

If the work is stopped for a short duration or totally
No coverage is provided for defective material
Faulty design leading to any kind of loss
Inventory loss
Any kind of regular wear and tear
Consequential loss
Loss caused during any kind of war
Any loss or damage caused due to willful act or negligence
Loss or damage caused due to radioactive contamination, nuclear radiation or reaction

Contractors All Risk Insurance for Road and Bridges: Add-ons

Here are the add-ons that come along with contractors all risk insurance for road and bridges:

Terrorism
Earthquake
Contractor’s plant and machinery
Removal of debris
Maintenance visit or extended maintenance
Surrounding property damage
Coverage for scaffolding, shutter material, etc.

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FAQs

Ques 1: Why is contractor all risk insurance required?

Ans: This insurance policy provides coverage to the policyholder against any physical damage caused during the construction of any building, road, bridge, etc. be it any machine or equipment that is to be used in the construction.
Ques 2: Will the insurer provide coverage for loss or damage caused due to the fault in design of the road or bridge?

Ans: No, the insurer will not provide coverage for loss or damage caused due to the fault in design of the road and bridge.
Ques 3: Does the contractor all risk insurance provide coverage for the loss or damage of the construction material?

Ans: Yes, contractor all risk insurance does provide coverage for loss or damage of the construction material from the moment they are unloaded at the construction site.
Ques 4: Does the contractor all risk insurance provide cover for the damage caused due to earthquake?

Ans: Yes, contractor all risk insurance provide cover for the damage caused due to earthquake but the insured will have to purchase an add-on for this cover.

Why is Construction All Risk Insurance Important while Constructing a House?

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Policybazaar for Business - Contractors All Risk Insurance - Customer Reviews

View all 28 reviews

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4.2

out of 5

Based on 28 reviews

1 users

21 users

6 users

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0 users

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

Disclaimers⁺
⁺Premium may vary on the basis of business activity, type etc.
⁺Disclaimer: The starting premium of ₹590 is for a 1-month project with ₹1 lakh Sum Insured, applicable to the occupancy 'Other sundry works for residential/commercial building' under TATA AIG in Delhi. The actual premium may vary based on occupancy type, insurer, add-ons, and location. Standard terms and conditions apply. Please refer to the sales brochure for complete details on risk factors, terms, and conditions before making a purchase.
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The details of insurance coverage, inclusions and exclusions are subject to change as per solutions offered by insurance providers. The content has been curated based on the general practices in the industry. Policybazaar is not responsible for the factual correctness of these details.

Claude