Contractor All Risk Insurance in the UAE
What is Contractor All Risk (CAR) Insurance?
Contractor All Risk Insurance, one of our Commercial Insurance policies, is designed to protect construction projects against unforeseen risks, covering damage to property, third-party liabilities, and financial losses due to accidents, natural disasters, or construction-related incidents.
Types of Construction Projects Covered Under Contractor All Risk Insurance in the UAE
CAR insurance typically covers various types of construction projects, including:
- Residential Buildings: Villas, apartment complexes, and housing developments.
- Commercial Buildings: Office towers, shopping malls, and hotels.
- Infrastructure Projects: Roads, bridges, tunnels, and highways.
- Industrial Facilities: Factories, warehouses, and manufacturing plants.
- Civil Engineering Projects: Dams, power plants, water treatment facilities, and pipelines.
- Renovation & Expansion Projects: Major refurbishment or structural modifications to existing buildings.
What Does Contractor All Risk Insurance Cover?
- Material Damage: Covers accidental damage to construction materials, equipment, and works in progress.
- Third-Party Liability: Protection against claims from third parties for bodily injury or property damage.
- Natural Disasters & Accidents: Covers losses due to fire, floods, storms, or earthquakes.
- Equipment & Machinery Damage: Coverage for damages to construction equipment and tools.
- Employee Injuries on Site: Provides medical coverage for site workers injured during construction.
What Does Contractor All Risk Insurance Not Cover?
- Faulty Workmanship: Defective design, construction errors, or poor-quality materials.
- Wear and Tear: Gradual deterioration, corrosion, or lack of maintenance.
- Pre-Existing Damage: Losses occurring before the policy start date.
- War, Terrorism, and Political Risks: Unless specifically included in the policy.
- Contractual Penalties: Fines or penalties due to project delays or contract breaches.
Contractor All Risk Insurance Claims Process in the UAE
Steps to File a Claim:
- Immediate Notification: Report the incident to the insurer as soon as possible.
- Documentation Submission: Provide necessary documents, including incident reports, site photographs, and invoices for damaged equipment or materials.
- Insurer Assessment: The insurance company evaluates the claim to determine coverage eligibility.
- Approval and Compensation: If approved, compensation is provided as per policy terms, ensuring minimal financial disruption.
UAE Contractor All Risk Insurance FAQs
Yes, CAR insurance can be tailored to specific project needs, covering additional risks such as subcontractor liabilities, temporary site structures, and specialized machinery.
Yes, multiple claims can be made throughout the policy term, provided the claims are valid and within the coverage limits.
Petra Insurance Brokers provides rapid claims assistance, risk assessment services, and expert guidance to ensure minimal disruptions to your project in case of emergencies.
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