A large amount of planning and expertise goes into a construction project and for those involved the greatest fear is that natural calamities could strike, resulting in crippling costs and even possible property damage or bodily injury suffered by third parties in connection with the works and happening at the site.
With Liberty Insurance Corporation, We provide a thorough understanding of your needs and making sure that you get the right insurance policy to indemnify you against this risk.
Contractor’s All Risk Insurance (CAR)
a kind of policy that provides coverage for material damage to the project starting from the commencement of the work up to completion and can be extended to cover third party property damage and injury losses arising from the execution of building or structures.
CAR may be taken out for all building and civil engineering projects such as
- residential condominium
- office building
- factory building
- water supply
- drainage system
Erection All Risk Insurance (EAR)
a kind of policy that provides coverage for the erection of complete factories and industrial plants such as
- electric power stations
- paper mills
- steel mills
- sugar mills
- oil refineries
- chemical plants
- textile mills
- fertilizer plants
- plywood plants
- food processing plants
This policy can also be extended to include third party liability related to work conducted on the vicinity of the erection site.
Electronic Equipment Insurance (EEI)
a kind of policy that provides an all risks of physical loss, destruction or damage to electronic equipment such as
- EDP equipment
- electrical and radiation equipment for medical use such as electrocardiograph, x-ray and other radiation equipment in hospitals and medical laboratories etc.
- communication facilities such as radio, television and communication apparatus
miscellaneous equipment such as film and television studio equipment, automatic addressing, booking and invoicing machines etc.