What is covered?
- Any unforeseen physical loss or damage to the Permanent and Temporary Works from any cause other than those excluded in the “Exceptions to Section 1” in the policy wording.
- The Indemnity shall be up to the Total Sum Insured as Specified on the schedule, including additional costs that are provided in terms of any of the Extensions to Section 1 as included on the schedule.
- Contracts Works shall mean the Permanent and Temporary Works erected as in the course of erection in the performance of the Contract as well as the Materials and Goods intended for incorporation therein, all being the property of the Insured or for which they are responsible whilst on or adjacent to or in the vicinity of the Contract Site.
- Temporary Works shall mean all Constructional aids, equipment or other structures (not being part of the permanent works) used or intended for use in the performance of the contract and which:
- Do not comprise Mobile Plant.
- The Contractor does not intend to remove from the Contract Site on Completion of the Contract.
The full value of which has been included in the Contractors Tender Price
Extensions Available (Applicable only if Stated in the Schedule)
- Malicious Damage Extension
- Maintenance Cover (Maintenance/ Defective Liability Period)
- Removal of Debris
- Additional Removal of Debris
- Escalation
- Expediting Expenses
- Suspensory Charges
- Claims Preparation Costs
- Principals Own Surrounding Property
- Temporary Storage
- Transit
- Open Trench Condition
- Road Works Warranty
- Difference in Conditions / Deductible (Applicable only in respect of Principal controlled insurance policies. (Principal Controlled Insurance (PCI) /as appearing on the schedule)
NOTE: This Extension is for the benefit of the Insured only and does not extend to include Sub Contractors or others named in the schedule. - Exchange Rate Limitation
- Currency Fluctuations
- Run Off / Run On Cover
