Contractors All Risk Insurance for Tunnel Construction

Types of Tunnel Construction Coverage

There are two types of tunnel construction covered in this policy-

• Above sea level
• Below sea level

Note- *the project period might vary from 1 month to 24 months

Contractors All Risk Insurance for Tunnel Construction: Inclusions

Contractors all risk policy for tunnel construction covers the following perils-

• Loss or damage caused due to lightning and fire
• Loss or damage caused due to several natural calamities, including floods, storms, tempests, and inundations
• Loss or damage caused due to man-made hazards such as riots, strikes, and vandalism
• Loss arising out of theft or burglary
• Loss or damage arising out of collision or due to impact of any third-party vehicle or collapse
• Loss or damage caused due to landslides, rockslides, or subsidence

Contractors All Risk Insurance for Tunnel Construction: Exclusions

Contractors all risk insurance for tunnel construction does cover the following perils-

• Loss arising due to defective material or faulty design
• An inventory loss
• Loss arising due to regular wear & tear of machinery or any other equipment
• Loss or damage arising out of war or any other related perils
• Loss or damage caused due to radioactive contamination, nuclear reaction, or radiation
• Consequential losses in the insured property
• Loss or damage arising out of cessation of work, whether partial or complete
• Loss or damage caused due to willful negligence or willful act of the policyholder

Contractors All Risk Insurance for Tunnel Construction: Add-ons

To enhance the coverage of contractors all risk insurance policy, insurers offer add-on cover for the following perils-

• Coverage for contractor's plant and machinery
• Coverage for earthquakes
• Coverage for construction equipment, including scaffolding, shuttering material, etc.
• Third-party liability coverage
• Surrounding property damage cover
• Coverage for removal of debris
• Coverage for the act of terrorism
• Coverage for a maintenance visit or extended maintenance

FAQs