20/05/2026
It is a type of construction insurance that provides protection for construction projects against accidental loss or damage during the construction period.
It commonly covers:
* Damage to the project/site works
* Fire, flood, typhoon, earthquake, and other natural disasters
* Theft of construction materials
* Accidental damage during construction
* Third-party property damage or bodily injury (depending on the policy)
CARI is usually obtained for:
* Building construction
* Roads and bridges
* Renovation projects
* Infrastructure works
Typical parties insured include:
* Contractors
* Project owners
* Subcontractors
Example:
If a partially built structure is damaged by a typhoon or fire during construction, the CARI policy may help pay for repair or rebuilding costs.
It is commonly paired with:
* Performance Bonds
* Surety Bonds
* CGLI (Comprehensive General Liability Insurance)
* Fire Insurance
