Building Dreams, Securing Success
This policy offers comprehensive protection against loss or damage in respect of contract work, construction plant and equipment and/or construction machinery.
The policy may also be extended to provide protection against third-party legal liabilities. The coverage for physical loss or damage to property is on an “All Risks” basis, i.e. the policy insures against damage to property in the course of construction by all sudden, accidental and unforeseen causes other than specified excluded perils and forms of damage.
This cover includes works brought on to the site for the purposes of the contract as well as temporary works erected or constructed on-site. Additionally, the policy includes coverage for physical loss or damage to the construction plant & machinery, equipment and tools used for the insured contract.
Third party liability: This policy also includes third party liability coverage. This insures against accidental bodily injury or illness to third parties as well as accidental loss of, or damage to property belonging to third parties, caused by an accident at the construction site. The policy also indemnifies for legal costs and expenses recovered by a claimant from the insured.
It is compulsory by law that builders should effect this policy for construction of buildings that are more than 2 storey.
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Contact
- Suite E6, Luxury Block, Opposite First Bank, Garki Ultramodern Market, FCT Nigeria.
- +234 916 262 1615
- info@micmadinsurancebrokers.com
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