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Contractors All-Risks Insurance
Secure Your Construction Projects with Contractors All-Risks Insurance
Contractors all-risks insurance covers the risk of accidental physical loss or damage to contract works during the execution of a civil project, and is intended to protect contractors’ interests in projects they are currently working on. Contractor’s All Risk policies will cover any physical damage that may occur as a result of contract work, as well as Third Party liability for which the contractor is liable.
Embarking on a construction project comes with its own set of challenges and unforeseen events. At omega insurance brokers, we understand the intricacies and the unexpected hurdles that might appear on your construction journey. Our Contractors All-Risks Insurance is meticulously designed to shield you from the unexpected, providing a robust safety net for your projects.
Why Choose Our Contractors’ All-Risk Insurance?
In the dynamic environment of a construction site, our Contractors’ All-Risk policy stands as a pillar, providing:
Ensuring projects are shielded from unexpected events.
Safeguarding against potential losses during the construction phase.
Protecting investments from unforeseen damages and liabilities.
Navigating Through Common Risk Scenarios with Ease
Comprehensive Coverage Tailored for Your Needs
Our Contractors’ All-Risk Insurance doesn’t just cover the basics; it extends to safeguard every aspect of your construction project:
Exclusions to Keep in Mind
While our policy is comprehensive, there are certain exclusions, such as:
Trusted coverage through our exceptional network of insurance partners.
Frequently Asked Questions
Why is a Contractors’ All-Risk Policy Essential?
With liabilities potentially running into hundreds of millions, depending on the project, a CAR policy acts as a financial shield against losses from various risks, ensuring your project stays on track even amidst unforeseen events.
How Does Contractors’ All-Risk Differ from Professional Liability Insurance?
While CAR covers damages to contract work and third-party claims arising from construction work, Professional Liability Insurance protects against claims of negligence and defective services provided by professionals.
How is the Premium Calculated?
Premiums are determined based on various factors, including the nature & size of the project, location, estimated completion time, safety standards adoption, contractor’s experience, and claims history.
What Encompasses a Contractors’ All-Risk Policy?
Navigating through the construction field means encountering various potential risks, from accidental damages to natural calamities. Our Contractors’ All-Risk policy is not just an insurance policy; it’s a promise to protect your project from unforeseen losses and third-party claims