Contractors All Risk Policy
Comprehensive Protection for Your Construction Equipment
Contractors All Risk Policy provides comprehensive coverage for construction projects, protecting against accidental loss or damage to works, machinery, and third-party liabilities. It ensures financial stability by covering unforeseen incidents that may occur during construction.
Key Benefits
- Covers physical loss or damage to construction sites and materials
- Protection for plant, machinery, and temporary structures
- Includes third-party liability coverage for construction-related incidents
- Financial security against unforeseen risks and damages
Health Cover Up
to ₹50 Lacs
What is Contractors All Risk Policy?
This policy safeguards contractors against risks like material damage, third-party claims, and unexpected losses during construction. It covers physical damage to the project site, tools, machinery, and temporary structures, ensuring smooth project execution.
Why do you need Contractors All Risk Policy?
Comprehensive Project Protection
Covers construction works, materials, and equipment from unforeseen damages.
Third-Party Liability Coverage
Protects against legal liabilities arising from third-party injuries or property damage.
Financial Security Against Losses
Minimizes financial risks due to construction-related accidents or damages.
Ensures Uninterrupted Work Progress
Helps contractors manage risks and continue work without financial setbacks.
Why choose Insurance Manager to protect your business?
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
What does Contractors All Risk Policy cover and exclude?
Plan Coverage
Material Damage Coverage
Covers sudden and unforeseen physical loss or damage to insured property.
Repair and Replacement Costs
Settlement is based on repair bills or replacement costs.
Total Loss Settlement
Compensation is based on the actual value before loss, minus salvage.
Third-Party Property Damage
Covers legal liability for accidental damage to others’ property.
Third-Party Injury Liability
Covers legal liability for injury or death of third parties, excluding employees.
Legal Expenses Coverage
Covers litigation costs recovered from the insured.
Additional Legal Costs
Covers legal costs incurred with the insurer’s written consent.
War and Civil Unrest
Excludes loss or damage due to war, warlike operations, or civil commotion.
- In-patient treatment 24 hours a day
- Pre-existing disease
- Pre and Post hospitalization
- Domiciliary hospitalization expenses
- Reimbursement of cost of health check-up
- All day care procedure
- Family floater to covers member’s immediate family such as a spouse, dependent children, dependent parents, etc.
- Maternity benefits
- Dental treatment
- Cost of spectacles, contact lenses
- Waiver of waiting period
- Waiver of first-year exclusions
- Reimbursement of ambulance costs
- Baby day one care
- Vaccination benefits
- Increased room rent limits
- Corporate buffer
- Out-patient treatment (OPD Card)
- Root canal surgery
- In-hospitalization expenses due to sickness or accidents
- Room and boarding expenses as provided by the hospital/nursing home.
- Nursing expenses.
- Surgeon, anesthetist, medical practitioner, consultants or specialist fees.
- Anesthesia, blood, oxygen, operation theatre charges, surgical appliances, medicines and drugs, diagnostic materials and X-Ray, dialysis or chemotherapy.
Major Exclusions
Willful Acts and Negligence
No coverage for damage caused by intentional acts or negligence of the insured or their representative.
Willful Misconduct
Loss due to negligence or willful act of the insured or representatives.
Nuclear Hazards
Excludes loss due to nuclear reaction, radiation, or radioactive contamination.
Faulty Design
Loss or damage due to defective design is not covered.
Lack of Maintenance
Excludes damage resulting from lack of use, rust, or poor maintenance.
Mechanical or Electrical Breakdown
Excludes losses caused by internal mechanical or electrical failures.
Inventory Shortfalls
Losses discovered only during inventory checks are not covered.
Wear and Tear
No coverage for normal wear and tear or gradual deterioration due to environmental conditions.
- Treatment of pre-existing illnesses.
- Any treatment for illnesses/diseases within the first 30 days of the policy, unless it is an accident.
- Treatment of specified illnesses for the first year of the policy.
- Certain diseases like hernia, cataract, piles, sinusitis, etc are excluded during the first year of operation in the cover.
- Any claim arising out of or traceable to pregnancy.
- Ayurvedic, homeopathy, naturopathy or any other form of local medication.
- Alcoholism, drug abuse, and AIDS.
- Dental treatment or surgery unless it requires hospitalization.
- Cost of spectacles.
- Vaccination and inoculation.
- Cosmetic treatment.
Your Journey to Insurance Manager
When can I Claim?
A claim under Contractors All Risk Policy can be registered in the below circumstances:
- When there is accidental physical loss or damage to the insured property.
- When third-party liability arises due to construction activities.
- When unforeseen events like fire, theft, or natural calamities impact the project.
Claim what’s yours with Insurance Manager
Have more questions?
Submission
Assessment
