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Contractors All Risks

Lothbury UK Ltd > Risks > Contractors All Risks

Contractors All Risks

(Contract Works, CAR)

The ‘All Risks’ element refers to the cover under the contract works section of the policy.  In insurance terminology this means that the policy will cover any loss or damage to the property and/or materials other than certain specific exclusions.  These specifically excluded covers generally include the existing structure, errors or omissions in design, penalties, damage to external structures not part of the contract and defective property.

The cover provided includes the permanent and temporary works, works materials whilst in transit (excluding air or sea transits) and offsite storage is usually covered as standard .  Temporary site buildings may be covered as standard by inclusion in the general definition of the contract works in the policy. 

The amount insured for the works should be the highest likely contract value being undertaken and to take into account and include any free issue materials, professional fees, debris removal and increased costs required to comply with any requirements imposed by public authorities.

The policy will apply until the soonest of issue of Certificate of Practical Completion, handover, the works being taken into use, exhaustion of the maximum contract period or expiry of the policy.