Contractors around the globe lead a tough life including the United Arab Emirates. People think…
Contract works insurance (CWI) is pretty much the same as Contractors all Risk Insurance (CAR). There is a minor difference between these two. That is CWI will cover smaller projects like renovation of interior and decor , installation of wiring or ducting ,etc. Whereas CAR will cover the bigger projects like buildings , construction sites , warehouse building , etc Contract works insurance can be said as Contractors All Risk Insurance too.
CAR is basically a policy which offers cover for all the work which is going on in a construction site. It is a standard insurance policy which can be used by contractors on the site for their protection.
Suppose a construction is going on in a site and the building is half way complete. If that building suffers damages by natural disasters like earth quake or storm. The contractor without an insurance will suffer greatly. In this scenario the contractor would be liable for the damages. Here Contractors all risk jumps in. If the contractors has the CAR Policy the insurance company will cover for all the damages and the contractor will be able to complete the project without losing financially.
Contractor all risks insurance offers a broad spectrum of covers which include coverage for your plant and machinery, your tools, your equipment, and cover for your contract works.
In this era where risk is everywhere having CAR Insurance is a wise choice. Dubai online insurance makes sure that the rights of contractors are safe. Contact us on our Email or Call Us and have CAR Insurance before you go ahead to on your next project.
We as an Insurance (Tameen) specialist, specialize in the following areas :
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