SME Contractors’ Comprehensive Insurance.
This is a product designed to reduce costs and headaches on construction projects by covering all parties like the owner, general contractors, sub-contractor and all other parties involved in one umbrella policy that provides single safety.
These range of policies provided by this broad cover involves;
- Contract work insurance
- Inland transit
- Offsite storage
- Third party liability
- Beneficial occupation
- Political risk
This covers against physical loss or damage of project works during the construction period
This policy covers against loss or damage to the goods/materials while on transit by road and is provided on all risk basis.
This policy is extended to include works on site or offsite and in transit to and from site.
This covers third party liability risk in respect to body harm and property damage that may occur during the construction period making it an essential extension to any construction project.
This policy extends to cover fire and burglary damage to property where there is partial occupancy prior to project completion and handover.
This extension protects the project against damage / destruction of physical assets, loss of business, or business interruption due to any politically motivated violence.
Benefits of the cover
- Economies of large scale since could save up to 50% on cost.
- Eliminates duplication and gaps in cover by using one insurance company.
- Handles claims more efficiently by facilitating simplified claims processing.
- Reduces potential litigation and disputes of insurance companies.
- Premium is financed at very competitive rates from different financial institution.
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