Explaining Contractors All Risk Insurance

Contractors All Risk (CAR) Insurance is an optional, non-standard insurance policy which provides cover for the damage of property or any third-party damage or injury claims during construction projects.

Damage to property whilst renovations are being carried out, the improper construction of structures, as well as third-party individuals including subcontractors becoming injured while working on a building site, are the principle risks construction projects are exposed to.

The policy covers contractors for the duration of the building project. It includes cover for a contractor’s plant, their tools and equipment, as well as their employee’s tools, hired-in property and temporary buildings during the construction, as well as fittings and fixtures.

This optional type of cover can be added to an existing liability insurance policy. Catering for the unique hazards’ construction sites face, Contractors All Risk Insurance is designed to protect both permanent and temporary construction projects.

Who needs Contractors All Risk Insurance?

The contractor has responsibility for taking out Contractors All Risk Insurance. Though this type of cover can be useful for a number of different tradespeople who may work as part of a construction project.

These trades include:

  • Building contractors
  • Electricians
  • Plumbers
  • Painter and decorators
  • Bricklayers
  • Carpenters
  • Heating Engineers

Nelson Policies at Lloyd’s can provide Contractors All Risk Insurance. Our cover can include contract work, hired in property, own plant and tools to cater for contractual obligations.

The key features of our Contractors All Risk Insurance are:

  • It can cater for new business ventures
  • Low minimum premiums
  • We can consider criminal convictions and adverse financial history
  • Risk management is a key factor in our underwriting

The target trades of our Contractors All Risk Insurance are:

  • Plastering and dry-lining contractors
  • Builders including timber framed construction and self builds
  • Carpenters
  • Glaziers
  • Electricians
  • Painters and decorators
  • Kitchen, bathroom and shop fitters

For more information on our Contractors All Risk Insurance get in touch with Nelson Policies at Lloyd’s commercial insurance experts.

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