The CAR-insurance
You’ve accepted or contracted a great assignment. But what will you need to look out for when you take out a CAR-insurance? You’ll find an overview below:
1. Will any of the following activities be included in the work?
– Pile driving;
– Placing a sheet pile;
– Removing a sheet pile;
– Well pointing;
– Guided drilling;
– (partial) demolition;
– Work constituting a fire hazard?
Don’t want any unpleasant surprises? Then make sure to discuss a project with your OBM insurance advisor prior to starting the work.
2. You or the principal have taken out a (continuous) CAR-insurance, so it’s sorted. Right?
Is all the work covered under the existing CAR-insurance or are you required to register the project or acquire additional coverage? Will any of the following activities be included in the work
– Demolition;
– Activities causing vibrations;
– Foundation repairs;
– (Soil)remediation;
– Civil engineering?
Don’t want any unpleasant surprises? Then make sure to discuss a project with your OBM insurance advisor prior to starting the work.
3. Which sections can you insure, or are you required to insure according to the specifications, and which sections should you insure in view of the work:
– The work;
– Liability;
– Existing property of the principal;
– Tools, portacabins and sheds;
– Property of management ;
– Property of personnel;
– Transport;
– Operational damage?
Don’t want any unpleasant surprises? Then make sure to discuss a project with your OBM insurance advisor prior to starting the work.
4. What should you take into account apart from the question whether the principal or the contractor takes out the CAR-insurance:
– Insuring ancillary contractors;
– Insuring the work including VAT;
– Providing primary coverage for all rubrics;
– Insuring professional indemnity?
Don’t want any unpleasant surprises? Then make sure to discuss a project with your OBM insurance advisor prior to starting the work.
While it’s not an exhaustive list, it’s crucial to go over the topics mentioned below before starting work on a project, so that you’ll be able to call upon your CAR-insurance if damage is incurred:
– Does your CAR-insurance cover the required maintenance period;
– Does your CAR-insurance cover the construction period fully;
– Does your CAR-insurance cover the limits included in the specifications;
– Does your CAR-insurance require you to fulfil additional requirements, such as preliminary recordings, vibration measurements, and the like?
From everything mentioned above we can surmise that taking out a CAR-insurance is a cooperative endeavour between the principal, contractor(s) and our risk advisors in advance of a project commencing. You can count on us to take a proactive approach in managing your risks.
