#4 Arcade Building, Pioneer's Way
P.O. Box F-41480, Freeport , Grand Bahama
Contractor’s-All-Risk
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Comprehensive Contractor’s-All-Risk Insurance
Protect your business with tailored coverage that addresses the unique risks of your industry.
Why Choose Cornerstone for Your Commercial Insurance?
Peace of Mind:
Comprehensive protection against unforeseen risks that could impact your business.
Tailored Coverage:
Customizable policies to meet the specific needs of your business.
Expert Service
Friendly and knowledgeable professionals dedicated to helping you protect your business.
Types of Contractor’s-All-Risk Insurance Coverage
1. Contractors All Risks Insurance (CAR)
Overview:
Third-Party Liability Insurance Comprehensive coverage for construction projects, from small renovations to large civil engineering projects.
What’s Covered:
- Hurricane
- Cyclone
- Tornado
- Windstorm
- Fire
- Explosion
- Theft of site materials
- Impact damage
Who It’s For:
Contractors and business owners involved in construction or renovation projects.
2. Contractor Performance Insurance Bonds
Overview:
Provides a financial guarantee that contractors will fulfill their obligations under a contract.
Types of Bonds
Bid Bonds:
Guarantees payment if the contractor defaults after winning a bid.
Performance Bonds:
Guarantees payment if the contractor fails to complete the project as agreed.
Who It’s For:
Contractors involved in large construction projects that require financial guarantees.
Coverage Inclusions
Contractors All Risks Insurance (CAR):
All risks of loss or damage by natural disasters and theft.
Erection All Risks Insurance (EAR):
Protection against damage during installation of machinery and equipment.
Machinery Breakdown Insurance (MBI):
Coverage for mechanical and electrical equipment against breakdowns due to accidents.
Contractors Contractor’s-All-Risk Questions
Contractors insurance covers risks like property damage, theft, and liability on construction sites.
Yes, contractors insurance can cover tools and equipment used in construction projects.
Workers' compensation is often a separate policy but can be bundled with contractors insurance in some cases.
Contractors all risk insurance covers both property damage and third-party liability during construction projects.
Coverage may extend to subcontractors if included in your policy, but this depends on the insurer.
Yes, it covers building materials and tools from theft or damage on the job site.
Some policies offer coverage for delays due to weather or other unforeseen issues, but check for specific provisions.
Yes, public liability in contractors insurance can cover damages to adjacent properties during construction.
Need help with something else?
No matter where you live or what you drive, we find the policies that are right for you.
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- #4 Arcade Building Pioneer's Way
- Freeport, Grand Bahama,
- (242) 602-6652 /3
- info@cornerstonebahamas.com