Buildings under Construction or Renovations are usually insured under a Contractors All Risks Policy

Erection All Risks Insurance caters for the installation and commissioning of plant and equipment in a building or factory premises or buildings under construction

Machinery in Factory or Construction machinery at Sites can be insured under the Machinery All Risk Policy

Policy can be extended to cover Machinery breakdown caused by Internal mechanical fault, breakdown or unforeseen damage to the machinery whilst working or at rest

The policy can include Production Machinery, Air-conditioning Plants and Systems, Chillers, Power Presses, Overhead Cranes,  Computers and Servers

Third Party Liabilities under the Construction All Risks policy are part and parcel of the coverage and should never  be insured separately as this class of insurance does not carry any cancellation clause

This is an All Risks policy specially designed to meet the specific needs of the construction industry. It has 3 sections.

Section A – Building and Engineering works. This offers coverage on “All Risks” basis, on all contract works (the construction itself) and property of the insured whilst on the construction site. Storage of materials elsewhere can also be covered

Section B – Contractors Plant and Machinery. This covers all the equipment and machinery belonging to the contractor whilst on the construction site. Site housing for construction workers can also be insured if need be

Section C – Third Party Liabilities – this protects the insured and all contractors on site against accidental loss of or damage to third party property or injury to people resulting from any accident that happens at the construction site. For example, a fallen crane on site could damage road or nearby properties/buildings as well as causing injury or death to pedestrians and third parties. Similarly, falling objects from the construction site can also cause damage and/or injury. An uncontrolled fire on the site could also spread to nearby third party buildings too thus incurring liabilities.