| Builders and contractors working on construction sites | | | | works or materials when any of the work going on is |
| follow safety norms and standards to avoid | | | | damaged. It will also cover loss or damage caused to |
| workplace accidents, injuries, and damages. Yet | | | | the plant of owner including his machinery, tools, and |
| accidents may occur in spite of all precautions. | | | | equipments. Contractors all risk insurance also |
| Builders Liability Insurance provides coverage to | | | | provides cover for theft, loss, or damage to |
| builders and contractors as well as from third party | | | | machinery, equipments, tools which are hired in plants |
| claims resulting due to various types of risks in the | | | | from outside like hire yards. Some insurers also |
| form of accidents, thefts, damages, and injuries. | | | | extend this insurance to cover loss or damage to |
| Builders Liability Insurance covers a spectrum of | | | | owner or employee's hand held or power tools. This |
| construction related insurance packages like Public | | | | insurance is useful for contractors, builders, and other |
| Liability Insurance, Employers Liability Insurance, | | | | trades in the construction industry. |
| Contractors All Risk Insurance etc. | | | | Personal Insurance |
| Builders Liability Insurance Covers: | | | | Personal Insurance or Personal Accident Insurance is |
| It is beneficial for various trades across construction | | | | suitable for owners, Directors, sole Traders who in |
| industry. | | | | case get injured in an accident and can not work for |
| Public Liability Insurance | | | | a certain period of time. In such case they also can |
| Public liability insurance provides protection from any | | | | not sue their own company. It provides for a 24 |
| third party claims made against the businesses. It | | | | hour cover which is not limited to work related |
| covers claims when employees, sub-contractors, | | | | accidents. This insurance provides an income during |
| directors, owners are held accountable for any injury | | | | the entire course of period for which insured is unable |
| or damage caused to the third party or their | | | | to work. Personal accident insurance provides three |
| properties. It also covers legal costs that have to be | | | | distinct benefits in the form of monthly tax free |
| incurred for defending the claims. It also covers claims | | | | income, hospital cash, and lump sum (capital benefits). |
| made for defective products. The amount of | | | | A monthly tax free income means the insured gets a |
| premium will vary based on different factors like type | | | | tax free benefit after one month and continues to |
| of business, previous claims, projected turnover, and | | | | receive it for entire recovery period. While, hospital |
| number of employees. This type of Insurance is | | | | cash means the insured gets some amount as |
| useful for tradesman, builders, and contractors. | | | | expenses towards his stay in hospital. A lump sum |
| Employers Liability Insurance | | | | means the insured gets certain amount depending on |
| Employers liability insurance provides coverage to | | | | nature of injury. The personal accident insurance |
| employers when any of the employee or workers | | | | relieves the insured from financial worries when he |
| suffers physical injury or death while on work and it | | | | has to rest and recover. This insurance is popular in |
| is proved that the injury or death occurred due to | | | | construction industry. |
| employer's negligence. It covers the employers | | | | Machinery Insurance |
| against all the claims made by injured employee or | | | | Machinery Insurance provides protection against any |
| relatives of deceased employee for compensation. It | | | | type of loss or damage to most of machineries and |
| also covers the associated legal costs. This insurance | | | | equipments used in the construction industry like |
| is suitable for companies having employees or | | | | cranes, earth moving equipments etc. This insurance |
| workers. It is mostly issued along with public liability | | | | is especially useful for construction industry where a |
| insurance. | | | | lot of machinery is used and is exposed to rough field |
| Contractors All Risks Insurance | | | | conditions on routine basis. |
| Contractors all risks insurance covers loss or damage | | | | As there are chances of accidents, thefts, injuries, |
| to contract works, own plant, hired-in plant, and | | | | and damages during construction work, the Builders |
| employee's tools. The contract works section of this | | | | Liability Insurance provides a much needed protection |
| insurance is the main part which provides coverage | | | | from claims which can be detrimental to construction |
| for only the property on which the work is going on. | | | | businesses. It is also useful to cover third party claims |
| This insurance will cover loss or damage to contract | | | | for damages caused to other's property. |