Contractors All Risk
This insurance policy provides risk coverage against any loss during construction of a building under categories like industrial, hotels, homes etc. This policy has all risks covered except listed exclusions under the policy. Under this insurance, various add-on coverages are available which can be taken on payment of additional Premium. Some of the add-ons are available free of cost but will be available on demand only. A very important add-on is coverage of Third Party risk. There is an extension available under CAR/EAR policy to cover Contractors’ Plant and Machinery up to the limit of 25 Lakh.