This policy is designed to meet the insurance obligations placed upon Contractors or the property owners under the contract conditions. The policy provides cover for loss or damage to your Contract Works and your liabilities to third parties arising from carrying out the Contract Works. Construction plant, machinery and equipment such as cranes, tractors, dumpers, excavators, fork-lifts, etc., can also be covered under the Policy.
Section l – Material Damage
It covers almost any sudden and unforeseen physical loss or damage occurring (except as specifically excluded in the policy) to the contract works and construction machinery during the period of insurance.
Section ll – Third Party Liability
This section is in respect of third party liability for which the contractor may become legally liable to pay for damages consequent upon:
We will not be liable for any claims arising out of: