AXA Contractor All Risk Insurance
Even the most ordinary accident can lead to prohibitive costs by damaging your contract materials such as decoration materials, flooring, wallpaper, sanitary ware and so forth, impacting the value of your property and triggering compensation claims from third parties such as your neighbours, which could hurt your budget. To avoid extra financial burden, getting the right insurance before construction starts is vital. AXA’s Contractors “All Risks” Insurance is a flexible and simple insurance designed to give comprehensive coverage for contractors involved in renovation projects. Generally, the insurance covers damage to contract material at the construction site and liability to third parties for maximum protection, it also comes with the option to cover liability to third parties alone.
Section 1 - Material Damage AXA’s Contractors “All Risks” Insurance offers protection against accidental damage to contract materials for the renovation work at the construction site due to fire, flood or unforeseen accidents during the contract period. The sum insured is set according to the contract sum.
Section 2 - Liability to Third Parties A contractor or the principal (such as the property owner or tenant) is generally responsible for bodily injury and property damage suffered by a third party due to negligence during the contract period. This liability, which may also trigger legal expense, will also be covered by our policy. We offer protection against such liability ranging from HKD5,000,000 to HKD30,000,000 to fit with your need and budget. Before starting your renovation project, you should know not only in detail about the level of coverage you need, but also the premium you are prepared to pay. Contact our financial advisors now for a free consultation.
Additional Protection Employees' Compensation Whether you are the owner or merely an occupant of a property, you will be liable for the injuries or death of workers resulting from an accident at the site that occurred during the contract period. Explore our solutions to ensure you get sufficient coverage to meet potential claims under the law.
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