Contractors All Risk (CAR) Insurance is a comprehensive policy designed to protect construction projects from a wide range of risks, covering property damage and third-party liability claims. This insurance is crucial for contractors, builders, and developers, as it provides peace of mind by safeguarding against unforeseen events that can cause significant financial losses on construction sites.
Key Coverage Benefits:
• Comprehensive Property Damage Coverage: Protects against damage to structures, whether from improper construction, accidents during renovations, or damage to temporary on-site works.
• Third-Party Liability Protection: Covers injury or damage claims from third parties, including subcontractors and other individuals on-site, ensuring legal liabilities are managed.
• All-Inclusive Coverage for Construction Projects: Designed to cover all parties involved in a construction project, from the main contractor to subcontractors, providing a unified safety net.
• Protection for the Entire Project Lifecycle: Offers coverage from project commencement through completion, ensuring every stage is safeguarded.
CAR Insurance is an essential tool for managing the risks associated with construction, providing comprehensive protection that keeps your project on track and your liabilities in check.