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Construction Insurance product info

Construction Insurance

Providing protection on the damage/loss of construction or installation project during the working period.

User (The Insured)

  • Project Owner
  • Contractor and Sub-Contractor
  • Construction Consultant
  • Construction Loan Lender Bank

Benefits of Construction Insurance

Benefits

Compensation (Material Damage)

Providing compensation for material damage that is caused by fire, natural disaster, explosion, theft, work negligence, the use of wrong materials during the construction

Compensation (Injury / property)

Providing compensation for body injury or damages on third party’s property due to accidents that occur during the construction

Expansion Benefit

Providing compensation for expansion benefit with premium addition upon the damage caused by riots and strike

Construction Insurance Product Feature

Product Feature

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Insurance Types:

  1. Contractor All Risk (CAR)
  2. Erection All Risk (EAR)
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Insurance Term

  1. CAR - The term of Construction Contract plus maintenance period
  2. EAR - Installation Contract term plus commissioning and maintenance period
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Coverage value

The coverage value is determined by the Insured and adjusted with the project’s value

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Compensation

The compensation amounts to the restoration cost of the damaged works (reinstatement)

Individual Product List

Choose Askrindo Insurance Products According to Your Individual Needs

Personal Accident Insurance

  • An accident is an incident or event that contains an element of violence, both physical and chemical in nature, which comes suddenly, including an accident that is caused by poisoning food, steam and gas, falling into water or sinking

Fire insurance

  • Provides protection for damage to buildings or property caused by fire, lightning, explosion, airplane crashing and smoke damage.

Construction Insurance

  • Provides protection for damage or loss to the project construction work construction or installation installation during the work period.

Liability Insurance

  • Providing protection to the insured due to his mistake or negligence which can be legally prosecuted because it results in loss and or damage to third parties.

Goods Transportation Insurance

  • Provides protection for damage or loss of objects or interests that can be insured while in transportation from one place to another by land, sea or air transportation

Property All Risk Insurance

  • Provides protection for damage that occurs suddenly and unexpectedly due to various risks that cause it such as fires, lightning strikes, explosions, hit by aircraft, smoke (FLEXAS), hurricane angina, hurricanes, floods, landslides, earthquakes, strikes , riots, riots, other people's evil deeds and other risks.

Money Insurance

  • Provides protection for loss or damage to money, other objects that are equated with money, and place of deposit of money due to crimes committed by third parties (not employees)

Machinery Breakdown Insurance

  • Provides protection for physical damage that occurs suddenly and unexpectedly to the machine in the operational process.

Heavy Equipment Insurance

  • Provides protection for heavy equipment damage in a particular project or location, when the heavy equipment is used (at work), is idle or is being demolished (overhauling).

Travel Insurance

  • Provides protection against unexpected events while traveling within the country and abroad.

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