Construction & Engineering Insurance

construction & Engineering insurance

Construction & Engineering Insurance

For any building and engineering projects, Contractors All Risk Insurance or Erection All Risk Insurance is the required type of insurance.

Contractors All Risk Insurance:

Contractors All Risk Insurance, also known as CAR Insurance, provides indemnity to all parties involved in a construction project. It is a comprehensive policy that covers loss or damage to the contract work. It also includes coverage for third-party liability in case of accidental bodily injury or property damage related to the contract works. However, certain exclusions may apply.

Erection All Risk Insurance:

Erection All Risk Insurance, also referred to as EAR Insurance, is similar to Contractors All Risk Insurance in terms of parties involved and coverage. The key difference is that EAR Insurance includes testing and commissioning risks. It is designed to cover engineering and mechanical installation works, specifically for erecting projects like power plants, refrigeration plants, electrical generator stations, overhead gantry cranes, machinery, equipment, and other fittings in factories and complexes.

The parties involved in these insurance policies typically include the main contractor, nominated sub-contractor, sub-contractors, principal, and/or principal bankers.

If you would like to learn more about these insurance policies, please don’t hesitate to contact us.

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