Singapore's Best Contractors All Risk Insurance

From just $83/month. Broad cover for property damage and public liability.

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Contractors All Risk Insurance (a.k.a. CAR Insurance) protects your business against liability for property damage or injuries during renovation, construction, or installation/servicing work.

Have you ever been concerned about liability from causing damage to a client’s property? Have you wondered if there was a type of insurance to cover such risks? You’ve come to the right place. Contractors All Risk Insurance is a type of coverage designed for a broad range of contracting companies.

This type of insurance is one of the most common that renovation contractors, construction companies, and equipment installation/servicing firms purchase. It’s usually very affordable, while providing generous coverage.

What is a Contractors All Risk policy? What does it cover?

1. Property damage: Covers liability from causing physical damage to a client’s property

Contractors All Risk will cover you in case you damage a client’s property accidentally.

2. Damage to contractor’s equipment and machinery

Contractors All Risk will cover any damage/loss to your equipment and machinery while working on a job.

3. Public liability: Covers injuries or property damage caused to third-parties

Contractors All Risk will cover liability to 3rd parties for property damage and injuries.

Who needs Contractors All Risk Insurance?

If you’re involved in any of the following industries, then you’ll need Contractors All Risk Insurance:

Renovation Contractor
Installation of any kind of equipment (e.g. IT equipment, manufacturing equipment, sensors, sprinklers, etc.)
Construction company

How much coverage do I need?

The amount of coverage you should carry depends on what clients typically will request from their contractors, and the number and contract size of your projects.

First off, most clients will usually request for you to carry $1-$2 Million Public Liability coverage under your Contractors All Risk Policy. Having served numerous contractors, this is the coverage amount that we see most commonly requested by the clients of our contractors. Such clients range across MCSTs, commercial landlords, private homeowners, to SMEs across all industries. We have also served contractors who work on big, multi-million dollar projects for Multi-National Corporations. Such MNCs may request for much higher coverage amounts of between $5-$10 million, which we can also provide.

The second consideration when deciding on coverage amount would be your annual revenue. Here’s a table that illustrates the approximate minimum coverage amount you should consider carrying:

Your revenue	Minimum estimated Contractors All Risk coverage amount you should purchase
Under $500,000/year	$1 million
$500,001 to $2,000,000/year	$1-1.5 million
$2,000,001 to $5,000,000/year	$1-2 million
Above $5,000,000/year	$2-3 million onwards

How much does Contractors All Risk Insurance cost in Singapore?

Single Project Cover: Starts from $400 per project
Annual Cover (Unlimited Projects): Starts from $83/month

If you are part of the very small minority of contactors who perform 2 or fewer projects a year, then you can consider a one-time project cover. We only need to know a few simple details like your contract value and length of project, before providing you a same-day quote. Of course, since most contractors will work on more than 2 projects a year, the annual coverage option tends to be more popular.

If you perform 3 or more projects a year, it’s a better idea to opt for an annual coverage policy. At $83/month, an annual policy provides you coverage for an unlimited number of projects each year. An annual cover is also more convenient, since you don’t have to answer underwriting questions each time you wish to purchase a policy, unlike with project-based coverage.

With Provide, you save up to 25% on your premiums. Our digital operating model creates lower overheads, and we pass these savings back to our clients.