]) BimaExchange - SME Contractors’ Comprehensive Insurance.
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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
  • This covers against physical loss or damage of project works during the construction period

  • Inland transit
  • This policy covers against loss or damage to the goods/materials while on transit by road and is provided on all risk basis.

  • Offsite storage
  • This policy is extended to include works on site or offsite and in transit to and from site.

  • Third party liability
  • 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.

  • Beneficial occupation
  • This policy extends to cover fire and burglary damage to property where there is partial occupancy prior to project completion and handover.

  • Political risk
  • 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.

To schedule an appointment with a Specialist about your Contractor Insurance needs, please Click here