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What Our Plans Cover
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Damage to the permanent and tempor...
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Materials on site awaiting incorpo...
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Fire
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Theft and malicious damage on site
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Third-party bodily injury and prop...
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Debris removal following an insure...
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Maintenance or defects liability p...
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Construction plant and equipment
Who Can Consider This Plan?
- A registered business, professional practice or organisation
- Activities within the classes the insurer writes
- Accurate disclosure of turnover, activities and territories
- Disclosure of all known circumstances that could give rise to a claim
- Compliance with any statutory licensing applicable to the activity
What May Not Be Covered?
- Defective design, workmanship and materials, subject to the policy wording
- Liquidated damages and contractual penalties for delay
- Wear, tear and gradual deterioration
- Loss of contract documents and drawings
- Damage to existing structures, unless specifically included
Always check the policy wording before you commit.
Why Choose Wealth & Covers?
- Expert advice to choose the right plan
- Plans from leading insurance companies
- Hassle-free process and documentation
- End-to-end support, including claim assistance
- Dedicated relationship manager
Our Insurance Partners
- Star Health Insurance
- Care Health Insurance
- Niva Bupa Health Insurance
- HDFC ERGO
- ICICI Lombard
- Bajaj Allianz
We represent multiple providers to help you find the most suitable option at the best price.
- Expert Guidance Personalised advice from experienced insurance professionals.
- End-to-End Support From choosing the right plan to claim assistance, we are with you always.
- Claims Assistance Hassle-free claim support to ensure you get what you deserve.
- Transparent Process Clear information, easy documentation and a hassle-free experience.
Overview
Contractors' all risk covers a civil construction project from site handover to completion, in two sections: material damage to the works, and third-party liability arising from the construction. It is the standard policy for building, roads, bridges and similar civil works.
It is written on an all-risk basis, so it responds to sudden and accidental damage from any cause not excluded, rather than to a list of named perils. That breadth is why it suits construction, where the ways a project can be damaged are too varied to list.
The sum insured is the completed contract value, not the value of work done to date. The policy has to be able to pay for rebuilding the finished works, and insuring on progress leaves you under-insured throughout.
Who should consider it
Civil contractors, developers, and project owners. Most construction contracts require it, and it is often the employer rather than the contractor who arranges it for larger projects.
Benefits
- All-risk cover on the works rather than a named-perils list
- Third-party liability arising from construction included in one policy
- Materials on site and in transit covered
- Construction plant and machinery can be added
- Maintenance period cover after handover
- Satisfies the insurance clause in most construction contracts
What is covered, and what is not
Read the right-hand column first. It is the one that decides whether a claim is paid.
Typically covered
- Damage to the permanent and temporary works
- Materials on site awaiting incorporation
- Fire, flood, storm, earthquake and other natural perils
- Theft and malicious damage on site
- Third-party bodily injury and property damage
- Debris removal following an insured loss
- Maintenance or defects liability period after completion
- Construction plant and equipment, where added
Typically not covered
- Defective design, workmanship and materials, subject to the policy wording
- Liquidated damages and contractual penalties for delay
- Wear, tear and gradual deterioration
- Loss of contract documents and drawings
- Damage to existing structures, unless specifically included
- Consequential loss of any kind
- Work carried out without required statutory approvals
- War, nuclear risk and terrorism, unless added
Inclusions and exclusions vary between providers and between plans from the same provider. The wording in your own policy document is what governs — we will walk you through it before you buy.
How it works with us
- 1 We map the exposure before choosing a policy What you do, who it touches, and where a claim would come from. Liability cover follows the exposure, not the industry label.
- 2 Trigger and retroactive date agreed first Occurrence or claims-made, and how far back the cover reaches. These decide more than the limit does.
- 3 Limits tested against a realistic worst case Not the average claim — the one that would matter. Defence costs are part of that calculation.
- 4 Underwriting and, for larger risks, a survey Insurers price liability on process and controls. Good documentation genuinely lowers the premium.
- 5 Policy issued, and notification process explained Late notification is the leading cause of declined liability claims. We make sure your team knows when to call.
Important considerations
The things a brochure tends to leave out. Read these before you decide.
- Insure on the completed contract value from inception. Insuring on progress leaves the project under-insured for most of its life and invites the average clause.
- Extend the period if the project overruns. Overruns are the norm, and cover ends on the stated date regardless of whether the works are finished.
- Where you are building on or next to an existing structure, that structure needs specific inclusion. It is one of the most common gaps in renovation projects.
- Establish who arranges the policy — the employer or the contractor — before work begins, and get it into the contract. Assumed cover is the recurring failure on construction sites.
- Design and workmanship exclusions vary considerably between wordings. Read the specific clause rather than assuming the market standard.
Documents required
- Business registration and constitution documents
- Description of activities, products or services
- Annual turnover and, where relevant, export turnover
- Number of employees and details of contractors engaged
- Claims and incident history, usually for five years
- Existing policy schedules, where cover is being replaced
- Contracts specifying required indemnity limits, where applicable
Frequently Asked Questions
What does "all risk" actually mean?
The policy responds to sudden and accidental physical damage from any cause not specifically excluded, rather than to a listed set of perils. On a construction site, where the ways things can go wrong are too varied to enumerate, that breadth is the point.
Should the sum insured be the contract value or the work done so far?
The completed contract value, from day one. The policy must be able to fund rebuilding the finished works, and insuring on progress means being under-insured for almost the whole project.
What happens if the project runs late?
Cover ends on the policy expiry date whether or not the work is complete. Extensions are routine and inexpensive; the failure is forgetting to arrange one until after an incident on an expired policy.
Is faulty workmanship covered?
The cost of correcting defective work is generally excluded. Some wordings cover resulting damage to other, sound parts of the works. This clause varies more than most, so read your specific version.
Who should arrange the policy — the employer or the contractor?
Either, and the contract should say which. What matters is that it is arranged, on the right sum insured, and that both parties know it. Gaps arise almost entirely from each side assuming the other has it.
Want a shortlist instead of a catalogue?
Tell us the situation and an advisor comes back with two or three options that actually fit — and names what each one gives up.