Your Construction All Risks (CAR) insurance
Your CAR cover at a glance
CAR insurance covers any accidental damage to the structure or to your materials which occurs on site during construction.
We draw up all the technical elements of our policies, to ensure that you receive the best possible cover in the event of a claim.
Your CAR cover
Up to the amount of the works and fees declared to the Insurer when you took out your insurance. It is therefore essential that we work together to draw up your policy beforehand.
For certain specific projects (wind power in particular), it is advisable to analyse the contractual documentation provided by the turbine manufacturer before setting up a CAR policy.
Risks covered by CAR insurance
The most common events are natural events (storms, hail, etc.) and fires; construction errors; theft and vandalism at the construction site.
Your questions about CAR
Who should take out CAR insurance?
CAR insurance must be taken out by the Project Owner (SPV) and can be extended to all the parties involved in the construction project (construction companies in particular).
The policy can be taken out either per site, or for one year for all open sites. In this case, it is a framework contract, providing faster and more uniform cover and deductibles.
What are the possible extensions for a renewable energy construction project?
The Alexis Assurances team will work with you to supplement your CAR insurance with cover frequently required by project funders as part of comprehensive protection for the project company (SPV), such as:
- Project Owner’s Civil Liability.
- Loss of anticipated income following a property damage claim.
- Cover for the “Assembly and testing” phases in the event of a claim during testing, in particular
Is CAR insurance mandatory?
CAR/EAR insurance is not required by law.
However, it is strongly recommended that you take out CAR insurance to ensure the safety of your worksite and speed up the reconstruction process in the event of a claim.
What’s more, for project-financed sites, banks make this a requirement as part of the loan documentation. We help you comply with their requirements with our own policies.