Contractors' All Risks (CAR) Insurance:
If the "project" requires maintenance, replacement or rehabilitation due to loss or sudden damage during implementation and/or rehabilitation, the insurance provides coverage for owners and/or contractors.
Features of the the "Contractors' All Risks (CAR) Insurance" Program:
- Coverage includes contract work (including all the material costs involved) and all permanent and temporary jobs that shall be implemented in the "project" including:
- Adjoined, available, stored and transported properties
- Other properties belonging to the owners (existing properties)
- Contractor's equipment and machinery and temporary facilities required for construction at the project site
- Coverage of "debris removal" costs.
- Architects' / consultants' fees
- Air Freight
- Overtime and night shift hours
- Coverage includes public liability towards third parties. In other words, the company compensates the insured for the amounts he/she becomes legally liable to pay as follows:
- Physical injury or illness of third parties (fatal or not)
- Loss and damage to property belonging to third parties.
Coverage includes cross liability to secure any public liability towards third parties, including project owners, contractors, concrete contractors and engineers