Contractors All Risk Insurance
Trusted Contractors All Risk insurance for your business. Get affordable & all-compassing protection for your construction projects, fully compliant with UAE standards.
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What is a Contractors All Risk Insurance?
Contractors All Risk Insurance provides reliable coverage for construction projects, protecting against unforeseen and unpredictable risks. This policy covers damage to buildings, materials, and machinery, along with liabilities arising from third-party injuries or property damage. Aligned with UAE regulatory standards, this insurance policy ensures smooth project completion with minimal financial disruptions.
Key Inclusions in Contractors All Risk Insurance Policy
Theft & Burglary
Protects against loss or damage from forced entry, stolen construction materials, tools, or equipment
External Risks
Includes coverage for losses due to strikes, riots, civil commotion, and terrorism-related damages at the project site, creating issues for contractors.
Human Error & Negligence
Provides coverage for damages resulting from poor workmanship, lack of supervision, careless handling, or intentional sabotage.
Third-party liability
Offers financial protection for damages or any losses incurred in the event of construction activities.
Construction Plant & Machinery
Insures machinery, tools, and equipment used in construction against damage or loss.
Property Damage
Covers losses due to accidents such as fire, Lighting , explosion, Windstorm, Flood, Earth quake or unexpected incidents at the construction site.
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FAQs
Yes, subcontractors are part of contractors all-risk insurance coverage from risks such as property damage, third-party injuries, and other unexpected events.
Exclusion of War and Related Risks: Contractor All-Risk Insurance does not cover damages resulting from war, civil unrest, or similar events
- Willful Damage: Losses caused by intentional actions are not covered.
- Excess for Claims: Each claim is subject to an excess amount, as outlined in the Contractor All-Risk Insurance policy.
- Wear and tear: Damages due to normal wear and tear, rust, obsolescence, or deterioration over time are excluded.
- Contractual Penalties: The policy does not cover losses or penalties arising from failure to meet contract terms, such as delivery or completion deadlines.
- Faulty Design and Defective Materials: Contractor All-Risk Insurance excludes coverage for damages caused by faulty design, defective materials, or casting errors, except during erection.
Contractors all risk insurance cover damage caused by natural disasters in the UAE, such as floods, storms, earthquake or unforseen events. This type of coverage is important to shield construction projects from financial losses incurred from damage to the site, structures or equipment due to these natural disasters.
Yes, both small and large construction projects in the UAE can avail the coverage options from CoverB. Whether you’re handling a small residential building or a large commercial development, the policy is flexible to fit your needs.
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