what is CAR Policy
This query is : Resolved
02 September 2008
Dear experts please tell me in detail whats is CAr policy.
why we use car policy in business.
why we use car policy in business.
03 September 2008
CAR policy is Contractors All Risk Policy(CAR).Its coverage is civil construction projects, such as residential / commercial buildings, theatres, factory sheds, warehouses, roads, bridges, dams, reservoirs, tunnels, oil / gas pipelines, water / sewage disposal works, etc.
Under it ,Perils covered are Fire & Allied Perils Flood, Storm, Tempest, Cyclone Earthquake, Fire & Shock Collapse
Water Damage for Wet Risks .The Sum Insured shall include landed cost at site of imported / indigenous materials, construction cost (including visits of specialists / experts, supervision charges). It is the completely erected value of property inclusive of freights, custom duty, erection cost adjusted to fluctuations in wages / prices.
Under it ,Perils covered are Fire & Allied Perils Flood, Storm, Tempest, Cyclone Earthquake, Fire & Shock Collapse
Water Damage for Wet Risks .The Sum Insured shall include landed cost at site of imported / indigenous materials, construction cost (including visits of specialists / experts, supervision charges). It is the completely erected value of property inclusive of freights, custom duty, erection cost adjusted to fluctuations in wages / prices.
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