Contractor/ Construction Insurance and Takaful Coverage
By addressing potential risks during building, our construction insurance provides all-inclusive coverage.
You may be confident that our selection of insurance choices will take care of you. We have the appropriate options for you, whether you require Workmen’s Compensation (WC), Erection All Risks (EAR), Public Liability Insurance (PL), and Contractor All Risks (CAR). Provide your information, and a member of our committed staff will contact you with customized rates. Details on each coverage are provided below.
Construction Insurance Coverage
Example of Insurances used in Construction that we need to know.
Contractor/ Construction Insurance and Takaful Coverage Info
CONTRACTOR ALL RISKS TAKAFUL (CAR)
Unexpected events might occur in the building sector. Liabilities resulting from the performance of the contract, temporary work, materials, construction equipment, and equipment transported onto the site are all covered by the contractor’s all risks insurance.
The purpose of this policy is to assist contractors, principals, and developers in effectively managing the risks and exposures associated with construction.
Material Damage
All Risks for Contractors During the Takaful term, Takaful provides protection against any unexpected and sudden physical loss or damage to the contract works from any cause (except from those expressly mentioned in the Certificate).
This part of the insurance protects the insured’s contract works from any unexpected and sudden physical loss or damage that may occur to the contract works, property, or things insured during the insurance period (unless the policy expressly states otherwise).
Exclusions
- War, Civil War and any act of Terrorism
- Radioactive and nuclear energy risks
- Willful acts or willful negligence
- Wear and Tear
- Faulty design
- The cost of replacement, repair or rectification of defective material and/or workmanship
- Mechanical and/or electrical breakdown or derangement of construction plant and machinery
- Consequential loss of any kind, including penalties, losses due to delay, lack of performance, loss of contract
- Seepage, Pollution and Contamination
- Asbestos
Note: This list is non-exhaustive. Please refer to the policy contract for the full list of exclusions under this policy
Third Party Liability
Contractors’ All Risks Takaful will pay for your third-party legal liability up to the Third Party Liability Limit.
This portion of the insurance covers the insured’s liability for any third-party bodily harm or property damage resulting from and during construction activities on:
- Accidental bodily injury or illness to third parties
- Accidental loss of or damage to property belonging to third parties
Exclusions:
- War, Civil War and any act of Terrorism
- Radioactive and nuclear energy risks
- Willful acts or willful negligence
- Wear and Tear
- Faulty design
- The cost of replacement, repair or rectification of defective material and/or workmanship
- Mechanical and/or electrical breakdown or derangement of construction plant and machinery
- Consequential loss of any kind, including penalties, losses due to delay, lack of performance, loss of contract
- Seepage, Pollution and Contamination
- Asbestos
Optional benefits
You can also put the following extensions in your cover with extra help:
- Removal of Debris
- Professional Fees
Exclusions:
- War, Civil War and any act of Terrorism
- Radioactive and nuclear energy risks
- Willful acts or willful negligence
- Wear and Tear
- Faulty design
- The cost of replacement, repair or rectification of defective material and/or workmanship
- Mechanical and/or electrical breakdown or derangement of construction plant and machinery
- Consequential loss of any kind, including penalties, losses due to delay, lack of performance, loss of contract
- Seepage, Pollution and Contamination
- Asbestos
CONTRACTOR ALL RISKS INSURANCE (CAR)
Contractor’s All Risk Insurance is intended to fulfill the insurance requirements imposed on contractors under the terms of their contracts. It covers work that must be done in compliance with the contract, temporary labor, materials, construction equipment, and equipment brought onto the site, as well as liabilities resulting from contract performance.
Material Damage
Almost any unexpected and sudden physical loss or damage (except from those expressly prohibited in the policy) to the contract works, property, or insured products is covered by the Contractor’s All Risk Insurance during the insurance period.
Exclusions
- War, Civil War and any act of Terrorism
- Radioactive and nuclear energy risks
- Willful acts or willful negligence
- Wear and Tear
- Faulty design
- The cost of replacement, repair or rectification of defective material and/or workmanship
- Mechanical and/or electrical breakdown or derangement of construction plant and machinery
- Consequential loss of any kind, including penalties, losses due to delay, lack of performance, loss of contract
- Seepage, Pollution and Contamination
- Asbestos
Note: This list is non-exhaustive. Please refer to the policy contract for the full list of exclusions under this policy
Third Party Liability
Your legal obligation to reimburse third parties for losses will be covered by Contractor’s All Risk Insurance.
- Accidental bodily injury or illness to third parties
- Accidental loss of or damage to property belonging to third parties
Exclusions:
- War, Civil War and any act of Terrorism
- Radioactive and nuclear energy risks
- Willful acts or willful negligence
- Wear and Tear
- Faulty design
- The cost of replacement, repair or rectification of defective material and/or workmanship
- Mechanical and/or electrical breakdown or derangement of construction plant and machinery
- Consequential loss of any kind, including penalties, losses due to delay, lack of performance, loss of contract
- Seepage, Pollution and Contamination
- Asbestos
ERECTION ALL RISKS (EAR)
Covers the tasks that must be completed in line with the contract, temporary labor, supplies, construction machinery, and equipment brought to the site, as well as any liabilities resulting from contract performance.
The coverage starts as soon as work begins or after the insured property is unloaded at the contract site. It ends when portions of the covered contract work are taken over or put into service, or on the policy’s expiration date, whichever comes first.
Material Damage
Covers unexpected and sudden physical loss or damage related to all the risks associated with the construction and installation of any type of steel structure, machinery, or plant during a project.
Exclusion:
- War, civil war and any act of terrorism
- Radioactive and nuclear energy risks
- Willful acts or willful negligence
- Wear and tear
- Faulty design
- Mechanical and/or electrical breakdown or derangement of construction plant and machinery
- Consequential loss of any kind, including penalties, losses due to delay, lack of performance, loss of contract
- Seepage, Pollution and Contamination
Note: This list is non-exhaustive. Please refer to the Policy Contract for the full list of exclusions.
Third Party Liability
Protects the insured against any liability for property damage or physical harm to third parties that results from and occurs during project activity.
Exclusions:
- War, civil war and any act of terrorism
- Radioactive and nuclear energy risks
- Willful acts or willful negligence
- Wear and tear
- Faulty design
- Mechanical and/or electrical breakdown or derangement of construction plant and machinery
- Consequential loss of any kind, including penalties, losses due to delay, lack of performance, loss of contract
- Seepage, Pollution and Contamination
Note: This list is non-exhaustive. Please refer to the Policy Contract for the full list of exclusions.
PUBLIC LIABILITY TAKAFUL
Obtain defense against third-party legal liability in the event of an accident involving business operations that occurs during the takaful period.
Coverage
This plan protects you against all financial losses and expenses for which you may be held legally responsible, including medical expenses and injuries to others as well as property loss or damage. Additionally, this plan will pay for defense fees and lawsuit costs that written for approval.
Public Liability Takaful in the event of any of the following, takaful will cover your legal duty to third parties related to your business:
Accidental injury to persons
Accidental damage to tangible property
Exclusions:
- War, Civil War and any act of Terrorism
- Radioactive and nuclear energy risks
- Willful acts or willful negligence
- Wear and Tear
- Faulty design
- The cost of replacement, repair or rectification of defective material and/or workmanship
- Mechanical and/or electrical breakdown or derangement of construction plant and machinery
- Consequential loss of any kind, including penalties, losses due to delay, lack of performance, loss of contract
- Seepage, Pollution and Contamination
- Asbestos
Note: This list is non-exhaustive. Please refer to the policy contract for the full list of exclusions under this policy
PUBLIC LIABILITY INSURANCE
Get indemnity against your legal liability to third parties in connection with your business.