Contractors All Risk policy is an all-inclusive insurance solution specifically designed to cover this broad spectrum of risks. The policy directly benefits the contractors consulting engineers, architects, financiers, and insureds against unforeseen accidents. The policy covers civil engineering projects such as buildings, roads, airports, flyover, water tanks, sewage treatment plants and many more.

Contractors’ all risks (CAR) Insurance provides coverage for property damage, third party injury or damage claims, and risks on construction projects.

Damage to the property can be in the form of improper construction of structures, damages during renovations, or any damage to temporary work erected on-site.

Any third party (including sub-contractors) might also get any injury during construction -work. CAR insurance helps to bind the gap between different risks. It works like a common policy specifically designed to cover the gap between exclusions that would have otherwise exist if using separate policies.

In this policy, both contractor and employer are benefitted along with other parties such as financing companies. There are multiple parties involved in the policy; each of them retains the right to file a claim against the insurer (subject to the selection of right coverage and clauses). All the parties are bound to inform the insurer of any injuries and damages that may result in a claim.

CAR insurance policy can cover all parties are on a project. This is regardless of the type of damage to the property or who caused it. However, Insurer loses the right to subrogation i.e.; if it pays out to one party in the contract, it cannot seek to recover the same funds from another party in the contract. (Subject to this is included in the policy coverage).

The policy covers the commercial as well as institutional locations like office buildings, multiplexes/theaters, hotels/shopping center/mall, sports complexes, educational institutes, hospitals/health care facilities, and research institutes.