Lorem Ipsum is simply dummy text of the printing and typesetting industry.Ipsum is simply dummy.
CONTRACTOR’S ALL RISK INSURANCE
Scope of Cover:
The Policy covers civil construction projects, such as residential / commercial buildings, theatres, factory sheds, warehouses, roads, bridges, dams, reservoirs, tunnels, oil / gas pipelines, water / sewage disposal works, airports, flyovers, etc.
The Policy covers civil construction projects, such as residential / commercial buildings, theatres, factory sheds, warehouses, roads, bridges, dams, reservoirs, tunnels, oil / gas pipelines, water / sewage disposal works, airports, flyovers, etc.
Following perils covered under this Policy:
Fire and allied perils.
Flood, storm, tempest, cyclone.
Earthquake, fire & shock.
Collapse.
Water damage for wet risks.
Theft, burglary and house breaking.
Bad workmanship, lack of skill, human error, negligence, fault in erection.
Significant Extensions:
Breakage of Glass.
Terrorism.
Clearance and removal of debris.
Third party liability, surrounding property.
Escalation.
Express freight, holiday & overtime rate for wages.
Air Freight, Additional custom duty.
Construction, Plant and Machinery.
Extended maintenance cover.
Exclusions:
War and nuclear risks.
Willful act / negligence.
Partial / total cessation of work.
Normal wear & tear.
Gradual deterioration due to atmospheric conditions.
Loss or damage due to faulty design.
Contractual liabilities.
Consequential losses.
Cost of replacement / repair or rectification of defective material and / or workmanship.
Sum Insured:
The sum insured shall include landed cost at site of imported / indigenous materials, construction cost (including visits of specialists / experts, supervision charges). It is the completely erected value of property inclusive of freights, custom duty, erection cost adjusted to fluctuations in wages / prices.
The sum insured shall include landed cost at site of imported / indigenous materials, construction cost (including visits of specialists / experts, supervision charges). It is the completely erected value of property inclusive of freights, custom duty, erection cost adjusted to fluctuations in wages / prices.
Premium Rate:
The Policy is subject to Contractor’s All Risk Insurance Tariff and the Premium Rate is based on the type of project, nature of the construction period of project, EQ Zone and voluntary excess.
The Policy is subject to Contractor’s All Risk Insurance Tariff and the Premium Rate is based on the type of project, nature of the construction period of project, EQ Zone and voluntary excess.
In Case of Claim:
Inform the 24x7 Call Centre about your Policy details.
Get a Claim Registration No. while confirming the Policy details.
Appointment of Surveyor at the time of Claim Registration.
Fast settlement of claims after submission of all the relevant documents.
Next Steps
