Construction All Risk (CAR) insurance covers construction projects, such as hotels, apartments, restaurants, malls, etc. against risks like material damage and third-party liability for accidents involving injury or property damage.
Example: If a storm damages a property under construction, CAR insurance would cover repair costs, helping the project continue with minimal financial disruption.
Professional Indemnity insurance protects against claims of negligence, design errors, or omissions that could result from architectural, engineering, or consulting services provided during the project.
Example: If a client claims financial losses due to a design error that requires rework, Professional Indemnity insurance would cover legal fees and compensation, reducing the financial impact on your business.
Public Liability insurance protects your business from claims if third parties are injured or their property is damaged due to your construction activities.
Example: If a passerby is injured by debris falling from a construction site, this insurance covers their medical bills and any legal costs, safeguarding your business from costly claims.
Motor Vehicle Fleet insurance covers all company-owned vehicles used in your construction operations, from transport trucks moving materials to site vehicles.
Example: If a company-owned truck transporting materials is involved in an accident, fleet insurance covers repair costs and third-party liability.
Heavy Equipment insurance covers the cost of repairing or replacing construction equipment, such as cranes, excavators, and bulldozers, in case of damage, theft, or breakdown.
Example: If a bulldozer is damaged on-site, this insurance would cover repair or replacement costs, ensuring the equipment is quickly back in operation.
Employee Benefit insurance helps provide health, life, and disability coverage including medical expenses (Inpatient & Outpatient) for your employees. This is particularly important in high-risk industries like construction, helping to enhance retention, boost job satisfaction, and demonstrate your commitment to employee well-being.
Example: Offering comprehensive medical and life insurance for on-site workers helps boost morale and ensures workers feel valued, which can improve retention in a competitive field.
Environmental Liability insurance covers the costs of addressing pollution or environmental damage caused by construction activities, as well as legal claims arising from environmental impact.
Example: If construction work unintentionally contaminates nearby water, Environmental Liability insurance would cover clean-up costs and legal expenses, helping your company meet regulatory requirements.
D&O insurance protects the personal assets of your executives, company, and security if there are legal actions due to mismanagement.
Example: If shareholders sue your public company’s board for project mismanagement that led to financial losses, D&O insurance would cover defense costs and settlements, protecting the personal assets of directors and officers.
Protect your construction business with contractors insurance, offers comprehensive protection for your business against various job and project risks.
