All types of civil engineering works, ranging from small buildings to massive dams are exposed to damage from a wide range of causes such as fire, lightning, flood, inundation, storm, cyclone and other accidental damages. 'Contractors All Risks Policy' is a comprehensive insurance which provides complete protection against all types of civil construction risks. This cover can be taken jointly by the owner/ principal covering the interest of all other parties like main contractor, sub contractor, financial institution, bank etc.,

Duration: The cover starts from the time of mobilization at the site up to the time of successful construction and maintenance thereafter.

Sum Insured: The sum insured for the insurance should not be less than the full value of the contract works on completion of the construction. Basically, insurance should be for the contract price. Principals often supply contractors with materials on 'free issue' to be built into the contract works. These values should be declared separately and will be added as part of the contract works.

What it covers

The policy cover consists of two (2) sections, namely:-