An all-risk property insurance policy means that the policy will cover everything, except the perils which are clearly listed under the exclusion head. It means, that if something does not specifically exclude from the all-risk property insurance policy, the insurer would cover it. Often known as a comprehensive insurance policy, an all-risk property insurance policy […]
Articles Tagged: construction all risk policy
What to do if construction site which is covered under construction all-risk policy gets damaged?
If a construction site that is covered under construction all risk insurance policy gets damaged, the policyholder needs to approach the insurer and file a claim. In the event of any loss or damage that arises under a claim under construction all-risk policy, the following steps should be taken= Take all measures to curtail the […]
How to calculate the premium in construction all risk policy?
Overview A Construction Risk Policy—also known as Contractor’s All Risk (CAR) Insurance—covers physical damage to a construction project during the build phase. Calculating the premium for such a policy depends on various factors related to project value, risk, and duration. 🧮 Key Factors Affecting Construction Risk Insurance Premium: Project Value: Total cost of construction (including […]
What is 50:50 Clause in Construction All-Risk Insurance Policy?
As a building developer or contractor, it is necessary for you to safeguard your capital investments and work in progress or material which are bought for use in the project against various types of losses or damages. Here you will get a better idea about the 50:50 Clause in the construction of all-risk insurance policies. […]
Who can take the construction all-risk policy?
If you are into the construction business or have been associated with it in any way, you might have a fair idea of how susceptible your construction site is. A construction site is vulnerable to various kinds of losses or damages which can arise from theft, legal claim, damages, and more. As a contractor, it […]