Contractors All Risk Insurance Policy
PolicyContractors All Risk Insurance Policy
Policy

Contractors All Risk
Insurance Policy

  • Introduction
  • What’s covered?
  • What’s not covered?
  • Extensions
  • Why Choose HDFC ERGO?

Introduction

A construction site is susceptible to all sorts of Accidents. Losses can mount from pilferage, theft, damage, legal claims and more.

As a contractor we understand the need to ensure completion within the deadlines. To this end HDFC ERGO has the Contractor’s All Risk Insurance policy that covers the risks during construction, comprehensively. It includes physical loss or damage to property, plant, machinery and tools, works brought on to the site and temporary works erected on-site, as well as third party Liability related to work conducted on the site.

 

What’s Covered?

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The policy is designed to cover civil engineering projects such as buildings, roads, airports, flyovers, water tanks, sewage treatment plants, etc.

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Coverage can be extended to include the interest of suppliers/manufacturers, contractors and Subcontractors.

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Unless specifically excluded, this “all risk” insurance covers Accidental physical loss Read More...

What's Not Covered?

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Loss or damage due to willful misconduct

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Cessation of work, whether total or partial, and delay

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Damage due to faulty design

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Rectification of defective material and/or workmanship, inventory losses, etc.

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Deductible as stipulated in the tariff

Extensions

 
  • Earthquake
  • Act of terrorism
  • Escalation
  • Limited maintenance cover
  • Extended maintenance cover
  • Clearance and removal of debris
  • Damage to owner’s surrounding property
  • Third party Liability
  • Cross Liability
  • Express freight, holiday and overtime rates of wages
  • Contractor’s plant and machinery
  • Inland Transit
  • Innocent Non Disclosure/Breach of Policy Conditions
  • Serial losses
  • Vibration, removal or weakening of support
  • Loss or damage due to strike, riot and civil commotion (SRCC)
  • Drilling work for water wells
  • Suspension of Testing
  • Fire Fighting
  • Automatic Increase Clause
  • Test Run Definition for Gas Turbine
  • Test Run Definition for Steam Turbine
  • Declaration Clause
  • Marine off Shore works
  • Coffer Dams

Sum Insured

    This depends on the type of project, Sum Insured and duration of the project, and the voluntary excess opted for by the Insured. The premium can be paid in installments, when the policy period is more than 12 months.

Premium

    This depends on the type of project, Sum Insured and duration of the project, and the voluntary excess opted by the Insured. The premium can be paid in installments, when the policy period is more than 12 months.

Excess

    The policy is subject to a compulsory excess and Excesses under the policy depend on the type of construction work to be carried out.

Why HDFC ERGO?

Secured Over 1 Crore+ Smiles!

Trust redefines relations at HDFC ERGO. We consistently strive to make insurance easier, more affordable and more dependable. Here promises are kept, claims are fulfilled and lives are nurtured with utmost commitment.
Why HDFC ERGO?

All the support you need 24x7

We understand that in times of distress, instant help is the need of the hour. Our In-house claims team provides round the clock support to ensure hassle-free claim experience. We ensure to be your constant support system in times of need.
Why HDFC ERGO?

Catering customer needs

Since, last 16 years, we have been catering to endless customer requirements endlessly. By providing wide range of plans and add on covers for every portfolio.
Why HDFC ERGO?

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.
Why HDFC ERGO?

Awards

We have received ICAI Award of the Year for excellence in financial reporting FY:18-19
Why HDFC ERGO?

Secured Over 1 Crore+ Smiles

Trust redefines relations at HDFC ERGO. We consistently strive to make insurance easier, more affordable and more dependable. Here promises are kept, claims are fulfilled and lives are nurtured with utmost commitment.

All the support you need-24x7

We understand that in times of distress, instant help is the need of the hour. Our In-house claims team provides round the clock support to ensure hassle-free claim experience. We ensure to be your constant support system in times of need.

Catering customer needs

Since, last 16 years, we have been catering to endless customer requirements endlessly. By providing wide range of plans and add on covers for every portfolio.

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.

Awards

We have received ICAI Award of the Year for excellence in financial reporting FY:18-19
Awards & Recognition
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