What is CAR?
Construction All Risks (CAR) Insurance is one of the most comprehensive forms of insurance for construction projects. It is designed to protect investors, contractors, subcontractors, and other parties involved in a project against financial losses that may arise during the construction phase.
Construction projects face numerous risks, ranging from natural disasters and on-site accidents to unexpected damage to works, materials, and equipment. A single incident can cause significant delays and substantial financial costs.
CAR Insurance provides protection throughout the construction period, from the start of works until final handover of the project, helping minimise the financial consequences of unforeseen events.
Yes. Construction materials, equipment and machinery included in the project are protected against sudden or accidental damage from the moment they arrive on site.
Coverage begins when the initial works commence, including excavation and site preparation, and officially ends when the completed project is handed over or accepted by the client.
The policy covers the direct costs of the material damage that caused the delay. Additional coverage for indirect losses resulting from extended delays may be included by agreement.
