This insurance is also regarded as a non-standard insurance policy, which is exclusively meant for contractors, builders, plumbers, and electricians. This is because, as per law in most cases their office is their customer’s premises or a construction site. It is always third party and the contractors all risk insurance policy helps them stay safeguarded against any worries arising at the third party site.

  • Why you need the policy: The best contractors all risk cover in Mumbai protects against the costs of damage and loss arising when working at a third party premises, so when you are appointing people on contract to get some construction or repair work done, then it is always good to think about their safety and have this policy in hand.
  • Who should buy: This policy is a must for consulting engineers, architects and financiers because it helps in reducing the overall construction expenses and at the same time offers effectual financial protection for all parties involved.
  • What the policy offers: The best part about this policy, it is inclusive of its add-ons is that the contractors all risk insurance policy offers comprehensive and satisfactory protection in respect of contract works, construction plant and equipment and/ or construction machinery, as well as third party claims in respect of property damage or bodily injury arising in connection with the execution of a civil engineering project.

Few exclusions for the policy are Loss or damage to nuclear reaction, consequential loss, loss or damage due to faulty design, loss or damage due to war or war-like operation etc. So, it is important to get the policy under the guidance of an expert so that every aspect of exclusion and inclusion is weighed in properly keeping the future in mind.

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