Construction All Risks (CAR) Insurance

 

Construction projects create opportunities, but they also involve risks. A minor error, delay, or unexpected loss can have significant financial consequences for your project. With Construction All Risks (CAR) Insurance, you are protected against the key risks that may arise during the construction phase.

​

While you focus on building your client’s success, we provide the security behind the scenes.

​

What is Covered?

 

CAR Insurance covers physical loss or damage to the works during the construction, building, renovation, or refurbishment period. Theft of construction materials from the construction site is also covered during the policy period.

​

Who is Insured?

 

All parties involved in the construction project can be insured, including:

​

• Project owners

• Contractors and subcontractors

• Installers

• Architects and consultants

• Other parties contractually involved in the project

 

The Works

 

The insured works include physical loss or damage occurring during the construction period, including:

​

• Damage to the works themselves

• Theft of construction materials from the construction site

• Materials located on the premises for which the policyholder bears the responsibility and risk

• Costs for temporary supporting structures and temporary works, including erection and removal

 

Construction Equipment and Temporary Facilities

 

Essential construction equipment and temporary facilities can also be insured, including tools, machinery, site cabins, sheds, and scaffolding. These are covered against loss, damage, and theft, provided they are located at the construction site and fall under the responsibility and risk of the policyholder.

​

Existing Property of the Project Owner

 

The policy can cover damage occurring during the construction work to existing property belonging to the project owner, such as buildings and contents already present at the site.

​

Liability — Secondary Coverage

 

In addition to cover for physical loss or damage, CAR Insurance also provides secondary liability coverage for legal liability arising from damage to third parties caused by the construction activities at the project site.

​

Maintenance Period

 

Following completion and handover of the project, the coverage can be extended to include a maintenance period. This period begins after completion of the works and can be aligned with the terms and conditions specified in the project specifications or construction contract.

​

During the maintenance period, you remain insured against damage related to the completed works, subject to the terms, conditions, exclusions, and limits of the policy.

​

​