Contractors All Risks Insurance (also known as Contract Works Insurance) is a tailor-made insurance product to cater for the needs of builders and the various other allied trades who engage in work on a contract site.
It provides comprehensive protection against:
Cover is normally in respect of the standard property perils e.g. fire, storm, flood, etc. with the inclusion of accidental damage.
It is important to note that cover for any existing structure is excluded and must continue to be insured under its existing insurance policy by the principal or owner.
Cover can either be arranged on a Specific Contract Basis or an Annual Basis for all work undertaken by a contractor during the year of insurance.