03 September 2008
CAR policy is Contractors All Risk Policy(CAR).Its coverage is civil construction projects, such as residential / commercial buildings, theatres, factory sheds, warehouses, roads, bridges, dams, reservoirs, tunnels, oil / gas pipelines, water / sewage disposal works, etc.
Under it ,Perils covered are Fire & Allied Perils Flood, Storm, Tempest, Cyclone Earthquake, Fire & Shock Collapse Water Damage for Wet Risks .The Sum Insured shall include landed cost at site of imported / indigenous materials, construction cost (including visits of specialists / experts, supervision charges). It is the completely erected value of property inclusive of freights, custom duty, erection cost adjusted to fluctuations in wages / prices.
CAclubindia
