(a) Contractors All Risks Policy (C.A.R) covers almost all risks of property damage or loss except the ones specifically excluded that usually occur in construction sites and projects or are more related to construction activities. This cover is usually arranged for each project separately. It is suitable for organizations working in the field of civil works contracting, construction, maintenance, material supply, cleaning, demolishing, etc.
Erection All Risks policy (E.A.R) is issued for erection, testing & commission of plant and machinery. The cover offered is similar to Contractors All Risks.
Both C.A.R & E.A.R policies cover the insured’s legal liability to third parties for bodily injuries and property damage.
(b) Contractors Plant & Machinery Insurance. As a contractor, you will undoubtedly agree that construction plant, machinery and equipment cost a lot of money. They are also exposed to quite a number of risks, especially when they are used or stored in a construction site.
As a prudent contractor, owner or operator of such equipment you would, of course, think of how you can minimize your financial losses due to the above. This is why you need to go for insurance and this policy would provide you with the right cover and peace of mind.
(c) Machinery Breakdown Insurance on your machines and equipment, if you have any. This insurance will take care of repair or replacement costs of your machines or equipment in case of a breakdown due to failure of certain parts.
(d) Electronic Equipment Policy, a specially designed for your computers, ATMs, biomedical instruments, and other electronic equipment, software, and data. It covers accidental damage and breakdown of such computers and equipment. If you have this insurance then we will pay for replacement and repair of the damaged computers or equipment.
(e) Boiler explosion Insurance: This policy is meant to cover boilers in industries/factories and provides cover for explosion/implosion. This policy also covers damage to surrounding properties and liability towards third parties for bodily injuries and property damage.