Introduction
Contractor's All Risks Insurance
CCW Global is able to provide Contractors and construction businesses with comprehensive Contractor’s All Risks, or Contractor’s Erection Risks protection.
Also known as “CAR Insurance,” Contractor’s All Risks Protection does exactly what the name suggests – protects contractors from all of the risks they face while on the job. Applicable to any type of construction job, CAR protection in Hong Kong ensures that no matter what happens, you have the liability benefits and indemnification coverage you need.
Contractor’s all risk protection is normally a bespoke product; tailored to the exact needs of your project and budget. From interior decorators renovating an apartment through to massive multi-floor high rise constructions, Hong Kong CAR Insurance works for you and the risks you face every day.
Overview
Contractor’s All Risks Insurance Coverage
Just like no two construction sites are the same, Contractor’s All Risks insurance comes in a wide range of shapes and sizes. But, at its core, it is designed to do what the name suggests – cover all risks faced by a contractor in the course of any given construction job, no matter what the job may be.
From the start of the job to the end, Contractor’s All Risks protects construction professionals against all risks.
However, most CAR Insurance products will start with Public Liability Protection.
It is possible to take protection against just public liability risks, or expand your coverage to include all associated material risks. Many Contractor’s Insurance Plans in Hong Kong can be additionally tailored to include benefits like Removal of Debris, or Liability to employed visitors of the site – giving you maximum control and flexibility to manage the major risks associated with your project.
The addition of extended or comprehensive benefits under a Hong Kong Builder Insurance policy will mean an increased overall premium. But, with enough budget this type of insurance can give your next construction project complete protection from any untoward situation that may occur.
Cost
Contractor's Insurance Premiums
Premiums associated with Contractors All Risks Insurance in Hong Kong will be dependent on a number of factors including, the level of coverage you have chosen to obtain, the nature of your job, and the comprehensiveness of your policy.
Choosing to obtain a fully comprehensive, true all risks policy will be more expensive than simply opting to obtain Public Liability Insurance protection.
However, it should be noted that many Insurance Companies will require a minimum premium for any Contractor’s or Construction Insurance protection. This means that even if you have a small interior design job, that doesn’t have a large amount of risk, you will still expect to pay a minimum premium – a fixed cost for the coverage.
Comparisons
Contractor’s All Risk Insurance Quotes
CCW Global is able to provide Contractor’s All Risks Quotations from many leading insurance companies. Plans we offer can be tailored to suit the specific needs of your next job, and can help to ensure that you are only paying for the exact levels of protection that you need.
To receive a free quotation comparing your Construction Insurance options please complete the short form located here. Alternatively, you can Contact Us to speak directly with one of our expert Corporate Insurance Brokers and learn more about the business insurance products we work with.
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