Contractors All Risk

Covers All Risks for Construction Projects: Contractors all risk insurance policy provides cover for all risk for under construction projects from such perils as fire, impact damage, explosion and collapse etc. For construction projects that have a as high Sum Insured as 100 crores, the policy could be enhanced to cover design defects. Contractors all risk insurance policy also covers any damage due to natural disasters such as storm, flood, earthquake, lightning etc.

Construction Site Protection: Contractors all risk policy has been designed to cover any damage to the under construction civil projects due to sudden or accidental causes. The all risk insurance policy also covers the damage to the material purchased for the project development at the site.

Advance Loss of Profits: An add-on cover for Construction All Risk insurance policy, Advance Loss of Profits (ALOP) can indemnify the loss of profits due to delay in start-up of the project in the event of a covered peril. Besides these, the loss of standing expenses and net profit of the project considered to fall under the Sum Insured for ALOP. But please note that a standard excess in terms of number of days is applicable before the construction all risk insurance claim is triggered.

Customized Cover: Customized cover, in accordance to your requirements is offered under contractors all risk insurance policy in India. For instance, construction equipment like shuttering and scaffolding materials can be covered under the construction all risk insurance policy if required. When you buy construction all risk insurance from GIBL, you can be sure of availing the utmost benefits that is on offer at a reasonable premium.

Availability of Add-on Covers: Contractors all risk insurance policy comes with a number of effective add-on covers that are connected to a claim under the main policy, for instance, owners’ surrounding property. Other add-ons for contractors risk insurance policy include Escalation in Sum Insured, Loss of Documents, Additional Custom Duty, Removal of Debris etc. Each add-on is priced separately; though at higher Sum Insured, a few contractors all risk insurance add-ons could be availed at nominal cost.

Third Party Liability Coverage: As previously stated, construction all risk insurance policies cover third party property damage that may arise due to an accident at site. Contractors all risk insurance policy also offers liability cover for fatal or non-fatal injury to persons excluding employees.