What is Contractors All Risk insurance?
Contractors All Risk (CAR) insurance protects the contract works, materials and temporary structures on a construction site against accidental physical loss or damage, from breaking ground to practical completion. It typically also includes third-party public liability, so that injury to members of the public or damage to neighbouring property arising from the works is covered. Most JBCC, NEC and GCC contracts in South Africa require the contractor or employer to arrange CAR cover before work begins.
Construction guarantees and bonds
Employers commonly ask contractors for performance guarantees, advance payment guarantees and retention guarantees. When these are issued by an insurer rather than a bank, contractors keep their bank facilities free for working capital, which protects cash flow on large or multiple projects. Rosewood Insurance Brokers places guarantees with a panel of registered insurers and handles the underwriting submission on your behalf.
NHBRC guarantees for home builders
Builders and developers of new homes must be registered with the National Home Builders Registration Council and enrol each home. Where enrolment is late, an NHBRC guarantee may be required. We help builders assemble the right documentation and secure the guarantee quickly so projects are not delayed.
Plant All Risk and mining equipment
Plant All Risk cover protects owned and hired construction plant, mining fleets and mobile machinery against accidental damage, theft and breakdown, whether on site, in storage or in transit between sites.
How a specialist broker helps
A specialist broker compares cover across multiple insurers, structures policies around contract requirements, and advocates for you when a claim is lodged. Rosewood is an authorised financial services provider focused on construction, mining and engineering risk.