Contractor All Risks Insurance
Contractor All Risks Insurance (CAR Insurance) is a comprehensive insurance solution designed for construction projects in Hong Kong, offering protection against the wide range of risks contractors, developers, and property owners face during building, renovation, or infrastructure works. Whether for small-scale renovations or major infrastructure schemes, CAR Insurance provides financial security against material damage, third-party liabilities, and unexpected project risks, ensuring business continuity and peace of mind throughout the construction period
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Contractor All Risks
Comprehensive “All Risks” Coverage
CAR Insurance policies protect against accidental physical loss or damage to works, construction materials, temporary structures, and machinery, covering events like fire, theft, vandalism, natural disasters, and accidents from project commencement to completion
Built-In Public Liability Protection
Nearly all CAR policies include third-party liability coverage, safeguarding against legal responsibility for accidental bodily injury, death, or property damage to others arising from construction activities
Mandatory Levy and Legal Requirement
Under Hong Kong law, insureds are required to pay the Insurance Authority premium levy on all general insurance policies, including CAR Insurance. This is a mandatory obligation for policyholders
Contractor All Risks Insurance FAQs
Owners, developers, main contractors, and sub-contractors involved in any type of construction, renovation, civil engineering, or fitting-out works should consider CAR Insurance, regardless of project scale
CAR Insurance covers physical loss or damage to the contract works, materials, on-site plant/equipment, temporary works, and liability for accidental injury or property damage to third parties
Yes. Policies are highly customizable and can include extensions for removal of debris, increased sums insured, loss or damage during transit, testing and commissioning, and extended cover for the defect liability period
Most CAR policies can be arranged to cover all parties involved in the project, including principal, main contractor, and sub-contractors, as specified in the insurance schedule
Most health insurance plans have a network of preferred healthcare providers. These providers have negotiated contracts with the insurance company, which often results in discounted rates for covered services. While you can choose to receive care from providers outside the network, it may result in higher out-of-pocket costs. International health insurance plans also offer out-of-network coverage, but the benefits and costs associated with it may differ.
Some policies offer an “automatic increase” feature, which adjusts the sum insured if the actual contract sum exceeds estimates, avoiding under-insurance
Standard policies do not cover financial loss due to project delays unless specifically extended through optional “Delay in Start-Up” coverage
