This is an Insurance Cover that takes care of those in Construction Industry i.e. Roads, Buildings, Electrical/Mechanical Installations.
It covers the Insured against Loss of or Damage to Machinery, Plant and Appliances, Raw Materials including Third Party Injury/Death and Damage to Third Party Properties.
This policy provides cover for those who have an immediate material interest in a project. These are the Principal (employer), the Contractor and usually all sub-contractors, often including suppliers of materials and equipment.
Contractors' All Risks is an insurance by which any building or civil engineering project under construction is protected against accidents resulting in physical damage to or the destruction of contract works (building in course of construction), Construction Property, equipment/machinery, temporary buildings, materials and other similar items brought to the site.
The policy can be issued in the name of the contractor only or, contractor, sub-contractor and the principal.
Frequently Asked Questions
When should we notify you that an accident has caused damage to contract works?
You should contact Firstline Insurance as soon as possible. We will provide immediate assistance.
Is there any time limit for submitting claim documents to you?
Yes, there is time limit for the submission of claims and associated documentation. Your policy document contains this information. We recommend that you submit all claim documents as soon as they become available. The earlier you submit the required documents, the sooner your claim will be handled.
Must we report losses that are within our deductible?
If the loss is confirmed below your deductible, it is not necessary to report the loss to us. If you are not sure of the final loss amount or the amount of the deductible, we recommend that you contact your agent, broker or us for guidance.