A CAR insurance policy is typically purchased jointly by the project contractor and the party that hired the contractor, such as the property owner.
The finance company, subcontractors, suppliers, and manufacturers, among others, can be named on the policy.
There are numerous financial risks associated with property damage and third-party injuries that construction projects present.
The non-standard insurance policy known as contractors’ all risk insurance covers these risks when they are brought on by things.
Like fire, flood, wind, earthquakes, and construction faults at the construction site during the course of a project.
