Contractors All Risk Insurance for Tunnel Construction

Contractors all risk insurance for tunnel construction provides coverage for physical loss or damage caused to construction material, insured property, plant & machinery used during the construction of tunnels. Along with this, the policy offers coverage for third-party liability arising due to work conducted at the construction site.

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₹1 Lakh cover starting at ₹590/month+
Your shield for every construction project from
fire or theft
third-party injury
unforeseen site damages
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Types of Tunnel Construction Coverage

There are two types of tunnel construction covered in this policy-

  • Above sea level
  • Below sea level

Note- *the project period might vary from 1 month to 24 months

Contractors All Risk Insurance for Tunnel Construction: Inclusions

Contractors all risk policy for tunnel construction covers the following perils-

  • Loss or damage caused due to lightning and fire
  • Loss or damage caused due to several natural calamities, including floods, storms, tempests, and inundations
  • Loss or damage caused due to man-made hazards such as riots, strikes, and vandalism
  • Loss arising out of theft or burglary
  • Loss or damage arising out of collision or due to impact of any third-party vehicle or collapse
  • Loss or damage caused due to landslides, rockslides, or subsidence

Contractors All Risk Insurance for Tunnel Construction: Exclusions

Contractors all risk insurance for tunnel construction does cover the following perils-

  • Loss arising due to defective material or faulty design
  • An inventory loss
  • Loss arising due to regular wear & tear of machinery or any other equipment
  • Loss or damage arising out of war or any other related perils
  • Loss or damage caused due to radioactive contamination, nuclear reaction, or radiation
  • Consequential losses in the insured property
  • Loss or damage arising out of cessation of work, whether partial or complete
  • Loss or damage caused due to willful negligence or willful act of the policyholder

Contractors All Risk Insurance for Tunnel Construction: Add-ons

To enhance the coverage of contractors all risk insurance policy, insurers offer add-on cover for the following perils-

  • Coverage for contractor's plant and machinery
  • Coverage for earthquakes
  • Coverage for construction equipment, including scaffolding, shuttering material, etc.
  • Third-party liability coverage
  • Surrounding property damage cover
  • Coverage for removal of debris
  • Coverage for the act of terrorism
  • Coverage for a maintenance visit or extended maintenance

FAQs

  • How many types of tunnel construction do contractors all risk insurance cover?

    Ans: This policy offers coverage for two types of tunnel construction-
    • Above sea level
    • Below sea level

  • Who can buy contractors all risk insurance for tunnel construction?

    Ans: All those who are in the civil construction business can purchase this policy. These include contractors, sub-contractors, principal or project owners, commission-based firms, and companies financing tunnel construction projects.

  • Are third-party claims covered under contractors all risk insurance?

    Ans: Yes, in case of theft or burglary of the construction material or equipment, the insurer will provide coverage for it.

  • How do insurers calculate risk in contractors all risk insurance?

    Ans: Based on the nature of the work and exposure to natural hazards at the project location, the insurer calculates the risks.
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  • 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.
    By clicking on "View Plans" you agree to receive assistance and agree to our Privacy Policy and Terms Of Use and also provide us a formal mandate to represent you to the insurer and communicate to you the grant of a cover.
    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.

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