Contractor’s All Risk (C.A.R)
The Basic Coverage of the Contractor’s All Risk (C.A.R) Insurance Policy includes loss or damage during the project or when the worksite is under construction. In addition, the policy covers damage or loss of building materials as a result of certain sudden and unpredictable events on the construction site.
The Additional Coverage of the Insurance Policy includes:
- Equipment and facilities
- Construction machinery
- Existing buildings and other property
- Out of the worksite stored materials
- Legal liability in existing buildings and other property
- Loss or damage during the maintenance period
- Expenses relating to the removal of debris
- Additional expenses necessary for expediting the restoration process/repair
- Legal liability (Public liability) to third parties (with or without the responsibility of weakening neighboring foundations)