Contractors All Risk Insurance (CAR)

This cover offers comprehensive and adequate protection against loss or damage in respect of the contract works, construction plant, equipment and machinery, as well as against third-party claims in respect of property damage or bodily injury arising in connection with the execution of a construction project.</p> <p>A CAR policy may be concluded by the principal or by the contractors engaged in a project, including all subcontractors.<br /> CAR insurance provides an “all risks” cover, which means every hazard is covered which is not specifically excluded. This means that almost any sudden and unforeseen loss or damage occurring during the period of insurance to the property insured on the construction site will be indemnified.

The most important causes of losses indefinable under CAR insurance:

Fire, lightning, explosion.
Flood, inundation.
Windstorm of any kind.
Theft, burglary.
Marine liability.
Project Cargo's.
Bad workmanship, lack of skill, negligence, malicious acts or human error.

The cover attaches as from the commencement of work, or after the items entered in the schedule of the policy have been unloaded at the site, and terminates when the completed structure or any completed part thereof is taken over or put into service. In addition, it is possible to extend the period of cover to include a maintenance period.