Robinsons Insurance Agency Blog
Contractors' all-risk insurance is intended to provide you with the necessary protection for your tools of the trade, the plant, and the machinery you may employ on-site, as well as the supplies required to complete the task.
It is deemed one of the complete techniques for safeguarding physical works, drawings, temporary structures, tools, and equipment on your construction site. Also, this type of coverage should allow you to tailor the coverage to your specific needs and requirements.
What Does It Cover?
This type of insurance often covers the contract work performed and the building works, whether completed or in progress. It also offers coverage for all items kept on or near the construction site where you are working.
Additionally, coverage for tools, plants, and equipment is provided against theft, loss, or damage to all these items, including those hired for usage on the job site. It may also cover temporary structures such as huts and storage sites.
Aside from that, this form of insurance often includes replacing your architect's drawings. Once the building work has been done, and the homes are ready for sale, it is usually typical for contractors all risk insurance to prolong coverage until the property is sold or for a specific number of days after the work has been completed.
Does It Have Special Considerations?
As a manufacturer, supplier, contractor, and subcontractor, you may have your interests protected by CAR coverage. The policy can also be expanded to include the following scenarios:
Moreover, CAR policies may be tailored to cover damages done when a company's start-up is delayed due to another covered loss.
Contractors' All-Risk insurance may cover damages to contract works, construction plant and equipment, construction machinery, and third-party liabilities. It also insures the financial stability of all parties involved in the building contract.
At Robinsons Insurance Agency LLC, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (888) 254-7350. You can also request a free quote by CLICKING HERE. Any coverage discussed is not guaranteed. Contact us today to go over your specific needs and we are happy to help you find a policy that works for you and your budget!