What is the economic importance of contractor’s all risk insurance?

The construction all risk insurance policy plays an important role in the economy by providing stability to the functioning of the process. Following is the economic importance of contractor’s all risk insurance policy: Provides Security Construction projects are massive, and they include big numbers. Hence, any loss or damage to the property may result in […]

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How should insured file a claim under construction all risk policy?

Construction all risk insurance policy provides coverage for engineering works such as the construction of residential buildings, commercial buildings, factory, roads, waterways, drainage scheme, sewage works, bridge etc. The policy document of this insurance states the steps that the insured needs to follow in the event of any loss or damage. Following are the steps […]

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What are the general exclusions under construction all risk insurance?

Undeniably, a construction site is a complex undertaking, and various losses or dangers can arise to disrupt its functioning. Therefore, it makes complete sense to go with a construction all risk insurance policy which promises to give the coverage against various risks and losses. The policy not only covers materials and equipments, but it also […]

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What is declaration clause in Construction all risk policy?

Construction all risk insurance policy offers to cover the assets and liabilities of the contractor during the construction work. The policy is arranged to cover the assets like materials, tools, plant and equipment from any loss or damage. It also covers the contractor against the liability arising from undertaking the construction work and causing injury […]

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How much cover should you take in construction all risk insurance?

As a contractor, it is your responsibility to ensure the financial protection of the civil engineering work which you are carrying out. Therefore, it is essential to get the financial protection against various losses or damages which you can do with the help of construction all risk insurance policy. The policy would play an imperative […]

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What do you mean by material damage in construction all risk insurance?

Construction all risk insurance policy covers the insured against the loss or damage to the construction site. A contractor can face some significant financial loss in case of such events and hence, having a policy can help him in the smooth functioning of the construction process. Construction all risk insurance policy covers the contractor in […]

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What are the clauses under construction all risk insurance?

Construction all risk insurance policy is taken by building contractors or developers to cover against the loss or damage caused to the property at their construction site. This policy also covers for the contractor’s liability for third-party claims arising from the construction activities. There are various clauses present in the policy document of the construction […]

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How Much It Cost of Construction All Risk Insurance?

As the contractor, you are responsible for the safety of your construction site. However, even you would take all the safety measures; accidents can arise at your construction site and disrupt your business. As a contractor, you would be held responsible for the loss or damage caused at the construction site and even to the […]

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