This is an “all risks” cover available to contractors that will offer protection against physical damage or loss during the construction of buildings and other projects such as residential buildings, office buildings, factories, power plants, bridges, dams, roads among others. It includes coverage of physical damage to the project, equipment and machinery and liability for third-party bodily injury or property damage arising out of these operations.
Contractors All Risks Insurance
What is Contractors All Risks Insurance?
- Costs of all materials and all temporary and permanent works.
- Principal’s existing property
- Contractors’ plant, equipment, and machinery at the project site,
- Reasonable costs for removing debris
- Loss or damage to third parties arising from the execution of the project
- A duly completed claims form
- Police abstract
- Purchase receipts /Invoices
- A detailed statement of the incident
- Any other documentation that may be specified
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