Contractor’s All Risk Insurance
Contractor’s All Risk Insurance covers civil works like construction of roads, bridges, dams, high rises, housing projects etc., against any sudden and unforeseen loss or damage involved in the construction of civil works of any kind, construction plant & equipment and construction machinery as well as surrounding property claims in respect of third-party property damage & bodily injury / death arising in connection with the execution of a project.
This section of the Policy provides cover against a wide range of perils. Some of the covered perils are.
- Fire, lightning, explosion, aircraft damage
- Riot, strike, malicious act
- Flood, inundation, storm, cyclone, and allied perils
- Landslide, subsidence, and rockslide
- Burglary and theft
- Human errors
- Short-circuiting, arcing, excess voltage
- Collapse, damage due to foreign objects, impact damages
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