Whether it’s your home or your business, you have probably invested a considerable amount of time, effort and money in your property. Fire insurance will protect your property and investments against loss or damage from perils such as fire, lightning and flooding

This policy covers projects on-site during the construction period, and, if required during the maintenance period.

This is a property insurance cover for any building or civil engineering project. Legal liabilities to third parties can be included as well.

The project is exposed to risks beyond the control of the contractor. The policy covers projects such as:

• Residential, commercial, office buildings, hospitals schools e.t.c
• Factories, power plants
• Roads and railway facilities, airports
• Bridges, dams, tunnels, water supply and drainage systems, canals, harbors (county projects)

NB:- Target the above projects for business)

Rate

Machinery

• 1% minimum Kshs.20,000/=(Inclusive of riot & strike)
• PVT = 0.3% minimum Kshs.6,000/=
• T.P.O. 5,000/= (For road risks)

Constructions/Projects

• 0.15% of contract value, with a maximum sum insured of Kshs.299 million.
• Third party property liability – 5M per event & 100M per year

Excesses:-

• Acts of God: 5% of loss minimum Kshs.250,000/= for contracts above Kshs.10M.
• 5% of loss minimum Kshs.50,000/= for contracts below 10M
• All other claims: 10% of loss minimum Kshs.50,000/=

Extensions

• Professional fees: 5% of contract value maximum Kshs.500,000/=
• Debris Removal: 5%of contract value maximum Kshs.500,000/=

NB:- All projects/machinery above Kshs.300 million seek separate quotation)

Parties to be covered

• The principal
• The contractor

Exclusions

• War and war-like risks
• Nuclear risks
• Gross negligence of insured
• Cessation of work, total or partial
• Deductible
• Consequential losses
• Faulty design
• Defective material and or workmanship
• Wear and tear, etc.
• Files, drawings, etc.
• Losses discovered at the time of taking inventory
• Vehicles licensed for general road use