Match Insurance Brokers has been providing first-rate advice and insurance solutions to contractors and developers for over a decade
With a selection of niche insurers with access to professionals, with over 100 years of combined experience, our expertise places will help you make the right choice – no matter how big or small – in the construction industry.
A large amount of planning and expertise goes into a construction project and for those involved the greatest fear is that disaster could strike, resulting in crippling costs and even possible injury. You need to be sure that you are adequately covered with the right insurance policy to indemnify you against this risk, and give you peace of mind.
Types of Insurance Policies
Typically, there are two types of policies for those in the construction industry:
- Contractors’ All Risks (CAR) insurance provides coverage for material damage to the works under construction, and can be extended to also cater for third-party property damage and injury losses.
- Erection All Risks (EAR) Insurance offers comprehensive coverage for the erection of plant and machinery and can also be extended to include third party liability related to work conducted on site.
Which insurance policy you need will depend largely on the type of building project you are planning. In general terms, if the main purpose of the work is the construction of buildings or other structures such as dams, roofing, foundations or alteration work, a CAR policy is ideal. An EAR policy should be considered if the main purpose of the job is the erection, installation and commissioning of plant machinery or equipment. In some cases, the project involves both types of work in which case the policy could be tailored to your needs.