Contractor's All Risks Insurance (CAR)
CAR insurance from TTIB – covers construction project damage from accidents, natural disasters, and third-party liability. Plan you customized risk-transfer
solutions and get professional advice from TTIB experts
and a plan tailored to your project(s).
What is Contractor's All Risks Insurance (CAR Insurance)?
Contractor’s All Risks Insurance, often knowingly referred to as Construction Insurance, is an insurance policy plan taken out by project owners, contractors or property owners to manage potential risks throughout the construction period, from day one until project completion, whether such jobs are renovation, newly construction, or repairings. Not only to cover damages of assets and high-value machine, but also to third-party people, e.g., neighborhood or site visitors.CAR insurance is purposed to be risk management and safety plan, covering two main areas:
1) Property & Construction Damage (Contract Works): Protects the site, ongoing structures, and materials against unforeseen accidents, natural disasters, and physical damage during construction, renovation, or expansion.
2) Third-Party Liability: Covers legal liabilities if construction activities accidentally cause bodily injury to third parties or damage to surrounding property.
Other coverages might be as added upon discussion of policy plan customization with insurers.
In conclusion, CAR Insurance ensures your construction project runs smoothly against unexpected disruptions, whether accidental or natural.
Covers accidental damages during construction, third-party bodily injury and/or property liabilities, and losses from natural disasters.
Covers construction machinery and equipment as specified in the policy.
Covers the project owner's existing assests and/or property located within the insured construction area.
What Are the Benefits of CAR - Contractor's All Risks Insurance or Construction Insurance?
Beyond meeting contractual obligations, CAR insurance or construction insurance as risk management tool, provides essential protection against unforeseen property damage and safeguards your project from interruptions and delays caused by unexpected accidents.
Reduces unexpected cost risks for the contractors' responsibilities.
- Comprehensive Property Repair & Rebuilding: Covers full repair or replacement costs for site assets damaged by unexpected accidents or natural disasters.
- Cash Flow Protection: Minimizes interruption to buffered budget expenses and eliminates the need for emergency capital, keeping your project’s finances on track.
- Third-Party Legal Liability: Safeguards against legal liabilities and compensation claims if third parties suffer bodily injuries or insured property, assets and machines as listed damaged from construction operations.
More firm confidence in recovery plan for the project owner
- Recovers quickly from damages, as the project stays less affected and able to move forward even after unexpected incidents, reducing the risk of project delays according to unreserved repairing budget, and keeping work on schedule per contract terms.
- Strengthens professionalism and credibility to business partners and investors as per the risk management planning.
Why Buy CAR Insurance / Construction Insurance?
TTTIB is dedicated to providing expert guidance and finding the most cost-effective construction insurance tailored specifically to your project’s needs, whether it’s building construction, renovation, or ongoing civil works. At TTIB, we curate the plan to suit your contruction project by considering:
Value-Pricing: Comprehensive protection tailored to your budget.
Professional Standard Service: Fast, attentive, and reliable support, from purchase to claim throughout the policy period.
Trusted Risk Management Consultant: to ensure that your every construction project is protected with well-planned risk management.
Long-time Expertise, High Standards
Managed by a Japanese non-life
insurance broker, an affiliated company
of Toyota Tsusho Thailand
group since 2005, combining Japanese
work standards with an understanding
of such unique culture-mix.
Fast Service, Honest at Every Stage of Service
At TTIB, we provide fast and fair, straightforward
service at every step based on realistic possibilities,
presenting suitable plans as per customer needs,
giving confidence to policy holders in both service and coverage.
Attentive to Every Customer Need
TTIB provides attentive services
throughout the entire insurance period,
from consultation, price comparison,
renewal reminders, and coordination
when customers need help
with claims or other insurance-related
assistance.
Exclusive Privileges and Promotions
With broad network of insurance
partners, TTIB is able to offer
competitive pricing comparison,
carefully selected at customer most
suitable cconditions, exclusive
with discounts or complimentary
items for both existing and new customers.
How to Choose the Most Suitable CAR - Contractor's All Risks Insurance?
Before purchasing CAR insurance, consider these key factors to get the plan that helps to consider most accurate coverage suitable to your risk-concerning:
Consider the value of the work and the project duration
- Total construction contract value, material costs, labour costs, and other main related expenses
- Value of the project owner’s existing property, in cases where the contractor purchases the insurance — may need to add major equipment such as machinery used for the work, etc.
*Remark: Consider the period the buyer requires coverage, as per the period from the project’s start date to the handover date, including the testing and Maintenance Period after handover.
Consider any necessary additional coverage
- Coverage for construction machinery and equipment, such as Tower Crane, Sheet Pile
- Coverage for the project owner’s existing property located within the construction area
TTIB's Insurance Partners
We partner with more than 30 insurance companies, both Thai and international.
Check CAR Insurance / Construction Insurance Premium – Ask Us for More Information
TTIB – your trusted Broker who genuinely cares, fast service, attentive to you.
A full, one-stop service Japanese insurance broker.
Provide total services, from insurance plan inquiry, pricing comparison, buy CAR construction insurance, and renewal process – all in one place.
Trust in service quality, and get coverage with reassurance.
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FAQs about
Construction Insurance (CAR Insurance)
How is CAR insurance different from standard fire insurance?
The primary difference lies in the main coverage conditions and the project’s construction status:
Standard Fire Insurance: Protects the completed buildings and existing structures.
Contractor’s All Risks (CAR) Insurance: Covers ongoing construction projects until completion (e.g. building materials, machinery, and third-party liabilities directly tied to active job sites)
How are CAR Insurance / Construction Insurance Premiums Calculated?
Contractor’s All Risks (CAR) Insurance premiums are to be considered by several key factors, including total project value, construction duration, specific work scope, and site risk level.
Because every construction project has unique risk exposures, premiums cannot be quoted instantly without prior evaluation of such risks’ assessment. Our expert consultants carefully review your project details to ensure accurate risk assessment and fair pricing.
Contact TTIB’s risk consultant experts today for a tailored, accurate construction insurance quote that precisely matches your project’s objectives and budget.
Who should consider CAR Insurance / Construction Insurance?
Primarily, Contractor’s All Risks (CAR) Insurance is designed for main contractors, project owners, and subcontractors involved in a construction site.
However, home owners planning a renovation, extension, or repair project are also highly encouraged to consult with us! Even if you aren’t sure whether to purchase a policy yet, assessing your site risks in advance is crucial.
Why is it essential to consider CAR insurance in your construction project?
Even if you are still evaluating options, speaking with a specialist helps identify key site exposures early. Securing construction insurance protects your project against high-risk accidents. This risk management is planned to helps covering property damage as well as legal liabilities for third-party injury or health impacts during operation.
What Documents Are Required to Get a CAR Insurance / Construction Insurance Quotation, or to Buy?
To evaluate project risks and issue an accurateContractor’s All Risks (CAR) Insurance quote, the following essential documents are typically required:
- Bill of Quantities (BOQ): To assess total material and project values.
- Construction Contract: To verify terms, roles, and insurance obligations.
- Scope of Work (SOW) & Schedule: To evaluate operational activities, such as demolition, structural work, piling, or excavation.
- Site Layout Plan: To review spatial arrangements and nearby structural risks.
- Others related e.g. specialized project data, additional technical specifications for specialized engineering or high-risk projects.
TTIB End-to-End Expert Support: TTIB’s dedicated risk consultant specialists will guide you through document reviews, policy terms, and risk evaluations, ensuring you to secure the project-suitable coverage plan from day one.
Does CAR Insurance also covers Interior Fit-Out and Event Work?
CAR insurance is also designed to provide coverage suited to other types of work, such as:
- Interior Decoration Insurance: For renovation or interior decoration projects of buildings, offices, and shops.
- Construction Site Insurance: Covering damage occurring within the construction site throughout the project duration, whether a large-scale construction project (housing estates, condominiums, subdivisions, etc.) or property extension, renovation, or decoration of general residential homes and buildings.
- Event Decoration Insurance: For the installation of stages, temporary structures, or components used in activities and various events or expos.
Be noted that coverage depends on the policy terms and conditions of each plan, based on insurer’s. We recommend consulting a TTIB consultant specialists to discuss your risk concerns to design of which package shall be the most suitable matche the nature of your project.
What is the common coverage of CAR insurance / Construction / Interior Insurance?
- Project & Renovation Damage:Covers active work areas against unforeseen accidents, fires, water leakage, or structural collapses during construction.
- Existing Structure Coverage: Extended protection for non-renovated parts of your home (e.g., original roofs, existing walls).
Note: Property owners must declare the accurate value of existing structures upfront for accurate underwriting and pricing proposal from insurers.
- Third-Party Legal Liability: Ensures you are safeguarded against legal liabilities for third-party bodily injuries or property damage caused by renovation activities (e.g., falling debris damaging a neighbor’s vehicle).
- Debris Removal & Clearance Expenses: Covers the costs of cleaning, clearing, and removing structural wreckage or site debris after an insured event.
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