Noble Insurance provides cover for civil works like buildings, dams and bridges. The cover granted is quite comprehensive including natural calamities. It also extends to third party liability, plant & machinery, temporary structures etc. We can issue the policy for the entire period of construction.
Contractors' All Risks Insurance [CAR] protects the interests of contractors involved in civil, mechanical or electrical contracts like construction of buildings, bridges, dams, towers etc, against their exposure to loss, damage or liability by a variety of external and internal causes during the course of construction.Section 1: Physical Loss or Damage: This section provides coverage for losses on materials and contract works from a variety of risks such as;
Maintenance Cover: Maintenance Period Cover protects the insured against any loss &/or damage that occurs in the course of the compliance with the maintenance obligation under the contract, subject to the cause of such loss or damage having originated during the period of insurance.
The premium is calculated on the basis of contract value, period of contract, value of Construction Plant & Machinery, nature and type of project, previous loss history of the contractor and the experience of the contractors in similar type of projects.