Contractors All Risk Insurance for Schools

Contractors All Risk Insurance for Schools: Inclusions

• CAR insurance covers the school building and its contents against various risks. This includes fire, theft, vandalism, and natural disasters like storms or earthquakes.
• It includes coverage for the construction equipment and machinery used in the school project. This includes cranes, excavators, and other tools.
• CAR insurance can cover the professional fees incurred for surveyors, architects, engineers. It includes other professionals necessary for the repair or reconstruction of the school.
• The Contractor all risk insurance policy typically covers the cost of removing debris from the construction site after an accident or damage.
• CAR insurance can provide coverage for financial losses incurred due to delays in the construction project. This includes additional expenses and loss of income.
• It includes coverage for temporary structures, such as scaffolding or temporary classrooms, used during the construction process.
• CAR insurance can cover the repair or replacement costs of machinery and equipment that suffer a breakdown during the construction period.
• The policy covers risks specific to the construction site. This includes collapse, theft, damage due to faulty design or workmanship, and accidental damage caused by construction activities.
• CAR insurance can provide coverage for materials and supplies that are being transported to the construction site, protecting against theft, damage, or loss during transit.

Contractors All Risk Insurance for Schools: Exclusions

• CAR insurance typically excludes coverage for any damages or losses that were present or known before the policy inception or construction project start date.
• Normal wear and tear of the insured property, such as gradual deterioration, is typically not covered by CAR insurance.
• CAR insurance usually does not cover losses resulting from delays in project completion, unless specifically included as an extension or endorsement.
• CAR insurance generally excludes coverage for any indirect or consequential losses. This includes loss of revenue or business interruption.
• Damage or losses to existing structures that are not part of the construction project are often excluded from CAR insurance coverage.
• CAR insurance may exclude coverage for damages caused by faulty design, defective materials, or poor workmanship unless specifically stated otherwise.
• CAR insurance policies typically exclude coverage for damages caused by war, acts of terrorism, civil unrest, or riots.

Contractors All Risk Insurance for Schools Add-ons

• Delay in Start-Up (DSU) Insurance
• Professional Indemnity Insurance
• Advanced Loss of Profits (ALOP) Insurance
• Terrorism Coverage
• Surrounding Property Insurance
• Professional Fee Insurance
• Legal Expenses Insurance
• Pollution and Environmental Liability Insurance
• Employee Tools and Personal Effects Insurance

Claiming process in Contractors All Risk Insurance for Schools

1. Notify the insurance company
2. Document the loss
3. Contact the insurance agent/broker
4. Submit the claim forms
5. Provide supporting documents
6. Await claim assessment
7. Claim evaluation
8. Settlement
9. Claim payment

FAQs