Construction / Contractor All Risk Insurance

This is an insurance policy equally suitable for Construction, Real Estate Development Companies, as well as for Beneficiary Companies or individuals, in case of construction of buildings, assembling of equipment or in case of refurbishing or upgrading works. Through the three sections of the policy CAR insurance covers the following risks:

Section I - Material Damage cover
It indemnifies the insured up to the total value of the project, for all the damages caused to the insured objective during the works, as well as for the damages caused by fire and natural perils.

Section II - Third Party Liability Insurance
Up to the total limit of liability stated by this section, it covers the amount for which the insured becomes legally liable and must pay for:

• Destruction or damage of property belonging to third parties, except the ones insurable under the section I
• Bodily injuries or death of third parties during and due to the works conducted

Section III - Advanced Loss of Profit
It covers the loss of profit due to the extension of the period of works due to the occurrence of a risk insured under the Section I.

back | get a quote