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Contractors All Risk Insurance (CAR Insurance) protects your business against liability for property damage or injuries during renovation/construction projects.
Contractors All Risk Insurance coverage includes:
1. Material damage to client’s property
2. Public liability
This type of insurance is one of the most common that renovation contractors, and construction companies, purchase. It’s usually very affordable, while providing generous coverage.
What is covered under the Contractors All Risk Insurance coverage?
a. Material damage to client’s property
b. Public liability: Covers injuries caused to third-parties
Do I need 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 Contractors All Risk Insurance coverage do I need?
Typically, most clients will request for you to carry $1-$2 Million Public Liability under your Contractors All Risk Policy.
How much does Contractors All Risk Insurance cost in Singapore?
Single Project Cover: Starts from $400 per project
Annual Cover: Starts from $83/month
With Provide, you save up to 25% on your premiums. Our digital operating model creates lower overheads, and we pass every dollar saved back to our clients.