Contractor's All Risk (CAR) insurance is a comprehensive insurance policy designed to protect contractors and builders against various risks associated with construction projects. It covers accidental damage or loss to the contract works, including materials, equipment, and labor.

Key Features of CAR Insurance:

1. Contract Works: Covers damage to the contract works, including buildings, civil engineering works, and other construction projects.

2. Third-Party Liability: Protects against claims from third parties for bodily injury or property damage.

3. Equipment and Machinery: Covers damage to or loss of equipment and machinery used in the construction process.

4. Professional Fees: Reimburses professional fees incurred to repair or rebuild damaged work.

5. Delay in Completion: Provides coverage for losses due to delay in completion of the project.

Benefits of CAR Insurance:

1. Financial Protection: Safeguards contractors and builders against financial losses due to unforeseen events.

2. Risk Management: Helps manage risks associated with construction projects, ensuring business continuity.

3. Compliance: May be mandatory for certain projects, ensuring regulatory compliance.

4. Reputation Protection: Protects the reputation of contractors and builders by ensuring timely completion of projects.

Who Needs CAR Insurance:

1. Contractors: Building contractors, civil contractors, and specialized contractors.

2. Builders: Real estate developers, construction companies, and building owners.

3. Project Managers: Companies or individuals managing construction projects.

4. Subcontractors: Subcontractors working on construction projects.