Contractors All Risk Insurance is an insurance policy that covers all risks associated normally with a construction project. Issued commonly under the joint names of a contractor and a principal (client), it is usually also include public liability insurance.
Under most contracts builders are responsible for accidents and damage on the job site and any equipment on the site . This responsibility is ongoing until the project is complete. These are the very risks that contractor’s all-risk policies are supposed to cover.
A C.A.R. policy protects not only the interests of the builders but also protects the person who hired the builder.
All Risk means that the policy covers all risk of damage to the works, plant, equipment and materials during the course of construction unless the damage is excluded. Exclusions are defined on a policy.
Period of Cover until the time the contractor leaves the site or others may be in-force for a longer maintenance period, after the owner takes control of the property but while the contractor continues to remedy minor defects.
Our C.A.R. policy is placed with Lumen Insurance through our underwriting capacity granded to us by the company.