Insurance Contractor All Risk (CAR)

Contractors' All Risks (CAR)

Ensure all risks of damage or loss that occurs in the process of development or construction (except a few risks are listed in the exceptions)

Guarantee Insurance Contractors' All Risks (CAR) including:

·   Assurance for Fire, Lightning, Explosion, Fall Aircraft and Smoke

·   Assurance for Riots, Strikes, Riot and Malicious Acts

·   Assurance for Windstorm, Hurricane, Flood and Water damage

·   Security for Earthquake, Volcanic Eruption and Tsunami

·   Assurance for Landslide and Soil Movement

·   Warranty for Robbery and Theft

·   Assurance for design errors (faulty design) - optional

·   guarantee for errors or omissions labor (bad workmanship)

·   warranty for another accident.

Policy Contractors' All Risks (CAR) consists of 2 Parts

Part 1: Material Damage (Material Damage)

Part 2: Liability to Third Parties (Third Party Liability)

Part 1: Material Damage (Material Damage)

Policies cover loss or physical damage, the unexpected and suddenly from any cause, other than matters specifically exempted, in relation to the process of development or construction tsb

Insured Objects

Object Coverage Insurance Contractors' All Risks (CAR) can be:

·   Contract Work - Contract Work, including preliminary work, temporary buildings, materials stocks and usually included tax (VAT).

·   material or materials supplied by the principal or owner.

·   Heavy equipment or support machines work (Construction Plant and Equipment or Machinery)

·   The cost of cleaning debris (Clearance of debris)

Coverage Period

Policy Contractors' All Risks (CAR) shall take effect from the commencement of work or after dibongkarnya goods on site and ending on the part of the contract work that has been handed over or used plus the maintenance period (maintenance period)

Exception

·   War, terrorism, nuclear and radioactive

·   Volitionality by the Insured

·   Discontinued either total or partial work

·   business disruption, including penalties, losses due to delays

·   design faults (faulty design)

·   The cost of replacing or repairing material / workmanship defects (defective materials and bad workmanship)

·   Aus, corrosion, the nature of the goods themselves

·   Damage to electrical or mechanical equipment or construction machinery

·   Damage to public vehicles 

·   Damage to the file, image or catata (files and drawings)

  

Part 2: Liability to Third Parties (Third Party Liability)

Policy ensures the legal responsibility to third parties in connection with the execution of work on body injury (bodily injury), property damage (property damage) and costs of law (law of costs and expenses)

a)   bodily injury: bodily injury or third-party sick because of an accident (whether fatal or not),

b)   property damage: loss or damage due to accidents to property owned by third parties

c)   law costs and expenses: all costs and expenses of litigation that prosecutors obtained from the insured, and all costs and expenses incurred with the written approval of the Insurers

Additional Warranty (Clause)

·   MR 001 Cover for Loss or Damage due to Strike, Riot and Civil Commotion (SRCC)

·   MR 002 Cover for Cross Liability

·   MR 003 Cover Maintenance Visits

·   MR 004 Extended Maintenance Cover

·   MR 006 Cover of Extra Charges for Overtime, Night Work, Work on Public Holidays, Express Freight

·   MR 007 Cover of Extra Charges for Airfreight

·   MR 013 Property in Off-Site Storage

·   MR 100 Cover for Testing of Machinery and Installations

·   MR 105 Cover for Existing Structures and / or Surrounding Property

·   MR 113 Inland Transit

·   MR 115 Cover for Designer's Risk

·   MR 116 Cover for Insured Contract Works Taken Over or Put Into Service

·   MR 119 Principal's Existing Property or the Property Belonging to or Held in Care, Custody or Control by the Insured

·   MR 120 Vibration, Removal or Weakening of Support

More details see: Contractors' All Risks (CAR) Clauses

Deductibles

For Insurance Contractors' All Risks (CAR) generally applicable provisions of Deductible - discounted claims U.S. $ 1,000 for small and medium projects s / d U.S. $ 10,000 for large projects.