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CONSTRUCTION INSURANCE (Additional Cover (Damage to surrounding property…
CONSTRUCTION INSURANCE
scope of cover
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excluded peril:
- loss or damage due to willful misconduct
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- loss or damage due to faulty design
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CAR - exist to insure building or project under construction against the cost of repair or replacement in the event of an accident
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- Loss discovered only at the time of taking an inventory
- Any damage or penalties on account of the Insured's non-fulfillment of the terms of delivery or completion
- The cost for rectification or correction of any error during construction
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loss , damage/liability , directly or indirectly
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- Municipal or Local Authority
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- Accident losses to the property damage to third party
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fire, earthquake, flood, storm, collapse, human errors