Scope of cover
Cover incepts from the commencement of workor after unloading of first consignment at project site, whichever is earlier and terminates on handing over of works to the principal or expiry of policy, whichever is earlier.
Sum Insured
The Sum insured shall be the fully completed value of the contract works inclusive of all materials, wages, freights, and custom duty and materials or items supplied by the principal.
Premium
Premium depends on factors like type, contractors experience, duration of the project, etc.
Significant Exclusions
This Policy does not cover loss or damage due to willful misconduct
Main Extension
Main policy can be extended for additional covers :
- Owner’s Surrounding Property.
- Escalation.
- Maintenance Cover.
- Clearance and Removal of Debris.
- Contractor's Plant and Machinery.