This insurance provides coverage for losses or damages in respect of the works at the contract site and third-party claims during the construction period. This insurance can also be extended to cover Construction Plant and Equipment, Construction Machinery, Removal of Debris, Professional Fees and Principal’s Existing Property. The duration of cover corresponds with the contract period.
The insurance provides coverage under two sections:
Section I - Material damage
Section II - Third-party liability
This insurance provides cover against below mentioned perils but not limited to:
Inform Allied Insurance Company immediately after the incident by:
BML Insurance is underwritten by Allied Insurance & Ayady Takaful Company of the Maldives
For any additional queries related to any of the insurance products please contact the nearest BML branch or BML Contact Centre.
1. Insured should make sure that you take all necessary action to minimize the losses.
2. In the event of a fire, a collision involving a third party, burglary/theft or malicious damage claim, you must notify the police as soon as possible and obtain a police report.
3. Repair works should be carried out with our approval
4. All damaged items should be preserved for inspection
5. Do not admit liability at any point or offer to settle the claim unless you have obtained the written consent from us
Note:
The information mentioned above are non-exhaustive. Please refer to the policy contract for the full list of cover and exclusions under this policy
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