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Securing your Projects & Future Profits

Contractor's All Risk Insurance

Features & Benefits

  • Requirements

    Civil engineering projects like buildings, bridges, dams, roads, etc. require huge capital investments and involve high risk of loss or damage. There may be accidents, natural disasters or unexpected happenings which can cause physical damage to the project, subsequently putting the responsibility for loss or damage on the contractor. This is where our Contractor’s All Risks Insurance comes to your aid.

  • Benefits

    The Contractor's All Risks Policy will cover any damage or loss to a civil engineering project thereby nullifying the risk of heavy losses. Cover is not a ‘named peril’ policy but an ‘all risks cover’, which means that it provides cover in the event of any loss or damage to the insured property unless caused by exclusions in the policy. This all risk policy that protects the interests of all the parties participating in the project, such as the principal, contractors, sub-contractors and financiers. Additionally, it will also protect the construction materials during storage and construction.

  • Sum Insured

    The sum insured should be the total project contract value together with the estimated cost of labour and construction materials.

  • Premium

    The premium amount paid by the insured will depend on the type, value and duration of the project.

For more information on Contractor's All Risks Policy, please read the policy wordings.

Coverage

You are entitled to use this insurance policy if you are involved in a civil engineering project as a contractor, subcontractor, financier, or the purchaser or owner.

To know more on eligibility conditions, please read the policy wordings.​​

Contractors' All Risk Insurance covers all risks normally associated with a construction project. The policy will provide cover against sudden and unexpected physical loss or damage to the insured property. This policy covers accidents and natural perils both while building materials are in storage and actively being used in construction, unless specifically excluded.

The policy cover begins with the start of the project, from the time the first material consignment is unloaded at the project site and ends when the project is finished or handed over to the purchaser or owner.

The policy cover can be extended to cover the following risks, upon paying an additional premium

  • Escalation
  • Maintenance
  • Clearance and removal of debris
  • Damage to the owner’s surrounding property
  • Third party liability
  • Additional customs duty
  • Express freight
  • Holiday and overtime rates and wages
  • Earthquake
  • Terrorism

This is not an exhaustive list. For a detailed list of inclusions & other details, please refer to the policy wordings.​​​​

This policy has ‘named excluded perils’ or specific risks which will not be covered under the policy.

The policy exclusions/risks are:

  • War and nuclear events
  • Wilful acts
  • Work cessation
  • Inventory losses
  • Wear and tear

This is not an exhaustive list. For a detailed list of exclusions ​& other details, please refer to the policy wordings.

Frequently Asked Questions

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Who can buy this product

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Contractor, Subcontractor, Suppliers, Principal, Financier of the civil project under Construction

Items Insured

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Civil engineering projects like buildings, bridges, dams, roads etc. which are under construction

Product Coverage

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Policy has 2 Sections -
Section 1- The policy is structured on an ‘All Risk’ basis with specified exclusions and is not a ‘named peril’ policy. It would indemnify the Insured against sudden and unforeseen physical loss of or damage to the property insured.

Section II - a) Legal liability for accidental loss or damage caused to property of other persons

b) Legal liability for fatal or non-fatal injury to any persons other than the Insured's own employees or workmen or employees of the owner of the works or premises due to construction of any property.

Other details

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(i) Project / Policy period can vary from a single day to Multiple years.
(ii) Policy Provides cover during Storage and Construction Stage of the project

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Pricing related

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Premium depends on type of Project, value, Coverages selected and duration of the project

How do I record any changes in the policy?

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What is third party liability insurance? Is it covered in this policy?

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

What is third party liability insurance? Is it covered in this policy?

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

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