Contractors‘ all risks also known as (CAR) insurance is a non-standard insurance policy that provides coverage for property damage and third-party injury or damage claims, the two primary types of risks on construction projects. Third parties, including subcontractors, may also become injured while working at the construction site. Contractor’s all risks insurance offers cover for ongoing work on a construction site. This type of insurance is a non-standard insurance policy, particularly useful for contractors, builders, plumbers, and electricians, who might find themselves working on a construction site. The main purpose of contractors’ all risks insurance is to make sure that your ongoing work on a construction site is covered. So, if there is an unforeseen event such as flood or fire, the contractor’s all risks insurance will pay to have the work repaired or re-done, meaning that you don’t end up out of pocket. In the event that you are halfway through building an extension on a customer’s home and the extension were to be destroyed by fire, you cannot expect the customer to pay for the work to be re-done and as the contractor, you would not want to pay either – this is where your Contractors all risks insurance is a life saver! Cover may also include your contract works, your own or hired plant tools/property and equipment, your employees’ tools, temporary buildings during construction as well as their fixtures and fittings.

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