Contractors All Risk Insurance

There are a number of key areas covered by Contractors All Risk Insurance. They include:

• Physical loss or damage to the contract works, construction materials and other property involved in the project. This includes cover for events such as fires or floods, as well as theft, vandalism and accidental damage.
• Protects contractors against unexpected events that could result in financial losses, ensuring that the project can continue without significant disruptions.
• Liability cover for third-party injury or property damage that results from the construction activities. This cover is vital to protect the contractor in the event that they are held legally responsible for injuries or damage to third parties.
• Cover for the loss or damage of a contractor’s own plant, machinery and equipment during construction projects, helping to reduce the financial impact on the company.

Underwritten by 538 Underwriting, Advantage offers two forms of Contractors All Risk Insurance. The first, a project specific product, addresses many of the insurance requirements & risks that our clients may face during the period of a project. This is applicable to a number of project types, such as Residential, Commercial & Industrial, Hospitality, Retail, Leisure and Education.

A second product provides Contractors All Risk Insurance on an annual basis meeting the insurance requirements and risks that our clients may face on their contract sites. Examples of contractors that can benefit from this product are Light Civils, General Builders, Mechanical & Engineering, Renovation Contractors, as well as Residential, Commercial & Industrial contractors.

Typically, both the contractor and the client will take out Contractors All Risk Insurance jointly. Both parties are then able to make a claim under this joint policy.