CONTRUCTION ALL RISKS (CAR) INSURANCE

- OVERVIEW
- INSURANCE COVERAGE
- EXCLUSION
- PRODUCT DOCUMENT
- CLAIMS GUIDELINE
- OTHER PRODUCTS
Contruction All Risks (CAR) insurance
product overview
- CAR insurance is a comprehensive product designed to cover for the Insured against all risks in relation to their construction projects. The Policyholder/Insured can be the project owner as well as contractors/sub-contractors of all tiers.
- Also, CAR insurance of TMIV is a solution to help you comply with compulsory insurance regulation for construction investment activities as stipulated in Law No. 50/2014/QH13 on construction, Decree No. 119/2015/ND-CP and Circular No. 329/2016/TT-BTC on compulsory insurance for construction investment activities.
INSURANCE COVERAGE
main coverage
Main Coverage:
- Section I covers for material damage to the construction works;
- Section II covers for third party’s property damage and/or bodily injury.
Key perils covered by CAR insurance can be:
- Fire, explosion
- Natural hazards: storm, flood, earthquake…
- Collapse of permanent and/or temporary structures
- Collision with external objects
- Bodily injury or illness of third parties caused by the construction works
extended coverage
Coverage may also be extended at the policyholder’s request with approval given by TMIV:
- Maintenance period
- Off-site property
- Extra charges
- Inland transit
- Existing property
- Cross liability
- Vibration, removal or weakening of support
- Etc.
EXCLUSION
Some typical exclusions of CAR insurance are:
- War, nuclear reaction etc
- Consequential loss
- Replacement, repair or rectification of defective material and/or workmanship
- Wear and tear
- Mechanical/electrical breakdown
- Others as specified in the policy
INSURANCE PREMIUM
Insurance premiums are determined based on risk assessment and specific insurance pricing principles of the product. For detailed advice and appropriate quotes, please contact Tokio Marine Insurance Vietnam Co directly.
PRODUCT DOCUMENT
CAR Wording
06/17/2025
Insurance Proposal Form
06/17/2025