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 a 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 some […]
Articles Tagged: risk insurance
Which Additional Benefits Can be Covered Under Contractor’s All Risk Policy?
A contractor’s all-risk insurance policy plays an important role by shielding you against losses or damages which may arise at the construction site. Here are some of the additional benefits which you can get added to your contractor’s all-risk insurance policy= Cover for air freight= A policyholder can get the expenses incurred on air freight. […]
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, factories, roads, waterways, drainage schemes, sewage works, bridges, 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 […]
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 that promises to give coverage against various risks and losses. The policy not only covers materials and equipment, but it also deals with […]
What Are The Various Declaration Clauses in Construction All-Risk Insurance 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, plants, and equipment from any loss or damage. It also covers the contractor against the liability arising from undertaking the construction work and causing injury […]
How much coverage does construction all-risk insurance provides?
As a contractor, it’s your responsibility to ensure the financial protection of the civil engineering work, you are carrying out. Therefore, it is essential to get financial protection against various losses or damages. This you can do with the cover in construction all-risk insurance policy that can be helpful. The policy would play an imperative […]
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 the […]
What are the various clauses present under construction all-risk insurance?
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 the contractor’s liability for third-party claims arising from the construction activities. There are various clauses present in the policy document of […]
How Much It Cost of Construction All Risk Insurance?
As the contractor, you are responsible for the safety of your construction site. However, even if 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 […]