As a contractor, you are legally liable for any injuries or damages to the third party or their property. In today’s society, where everything is so expensive, even small accidents could result in large and expensive lawsuits and legal settlements.
Our Contractors’ Liability product is targeted at meeting this need.
Although it is not mandatory to get this cover, we recommend you to buy this product. Unforeseen circumstances leading to losses – whether physical or liability-related, is most likely to occur when contract work is undertaken involving any sort of engineering or construction. One of the key tools for this is insurance. Ensure you are adequately insured before your project starts.
This description is intended to be a general summary of the type of coverages included in this product. Your needs maybe very different and will need different kinds of cover to actually manage the risks involved. We understand this and are happy to built a specific policy that will meet your requirements.
For details and quotations of tailor-made policies to suit your needs, please contact us or your insurance agent/broker.
Summary of Cover
A Standard Contractors Liability Policy, subject to certain exceptions, covers:
Bodily injury or damage to physical property arising out of the performance of the contract works to third party for which you’re legally liable
If the above coverage is not enough to encompass your needs, you’re more than welcomed to request a tailor-made product with extended covers* for items such as:
- Vibration or Removal or Weakening of Support
- Principal’s Property
* extended cover comes with additional premium
A quick glance at some of the exclusions for this product:
- Wear & tear
- Penalties/ consequential loss
- Fault defect error or omission in or failure of any design
- Defect in material or workmanship
- Contractual liability
- Any liability to workmen/ self-employed persons or sole-proprietor
- War risk/ Political risk Exclusion
- Terrorism Exclusion
- Nuclear/ Ionizing Radiations/ Contamination by radioactivity from any nuclear fuel or waste
- Asbestos Exclusion
- Pollution Exclusion
- Completed operation/ product Liability Exclusion
- IT Clarification/ Information Technology Hazards Exclusion
- Professional Liability/ Indemnity Exclusion
Particulars of the exclusions given above are not complete or exhaustive, for more information, please feel free to contact us.