Project Insurance

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Material Damage

Covers unforeseen and sudden physical loss or damage to property insured necessitating repair or reinstatement

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Third Party Liability

Covers accidental bodily injury and/or accidental loss of or damage to property belonging to third parties arising from the contract works

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Work Injury Compensation

Covers employer’s obligation for employees’ personal injury by accidental in the course of employment arising from the contract works

The Benefits

The table on the next page provides a summary of covers and sum insured under Etiqa Renovation Cover (Interior Renovation Only).

Subject to the following Terms and Conditions:

  1. Not exceeding 6 months contract period and 12 months maintenance period (For single contract only)
  2. Excluding Piling, Demolition, Basement Construction or Excavation Work
  3. Excluding Works on Oil-Rig, Onboard Vessel, Power Station, Petrol Chemical Plant, Semi-Conductor, Vicinity of Cold Room and Wafer Plant
  4. Discount: S$50 if No Maintenance Period involved – Only applicable to TSI exceeding S$100,000
  5. Premium non-refundable once the cover is bound
  6. Third Party Limit exceeding S$500,000: additional premium chargeable at S$50 for S$1million/S$150 for S$2million

IMPORTANT : The Package does not provide coverages construction plants, equipments and/or machineries.
Backdating of policies is not allowed.

Contractors’ All Risk Insurance

OPTIONS TOTAL SUM INSURED (Inclusive Removal Of Debris 10% & Professional Fees 10%) THIRD PARTY LIMIT MINIMUM PREMIUM (BEFORE GST) MINIMUM DEDUCTIBILES
SECTION ONE (EACH AND EVERY LOSS) SECTION TWO (EACH AND EVERY CLAIM)
Plan A Up to S$100,000 Principal Existing Properties – S$50,000 (1st Loss) Up to S$500,000 S$250.00
  1. Acts of God/Water Damage/Collapse – S$5,000
  2. Principal Existing Properties – $5,000
  3. Others – S$2,500
  1. Vibration Removal and Weakening of Supports/Water or Concealed Damage/ Collapse/Underground Facilities – S$5,000
  2. Third Party Property Damage – S$2,500
Plan B Up to S$250,000 Principal Existing Properties – S$50,000 (1st Loss) S$350.00
  1. Acts of God/Water Damage/Collapse – S$5,000
  2. Principal Existing Properties – $5,000
  3. Others – S$2,500
  1. Vibration Removal and Weakening of Supports/Water or Concealed Damage/ Collapse/Underground Facilities – S$5,000
  2. Third Party Property Damage – S$2,500
Plan C Up to S$500,000 Principal Existing Properties – S$100,000 (1st Loss) S$450.00
  1. Acts of God/Water Damage/Collapse – S$5,000
  2. Principal Existing Properties – $5,000
  3. Others – S$2,500
  1. Vibration Removal and Weakening of Supports/Water or Concealed Damage/ Collapse/Underground Facilities – S$5,000
  2. Third Party Property Damage – S$2,500

Work Injury Compensation Insurance

OPTIONS SUM INSURED – 20% of Contract Value MINIMUM PREMIUM (BEFORE GST) ON ALL EMPLOYEES ENGAGED IN THE PROJECT AS REQUIRED UNDER WORK INJURY COMPENSATION ACT OR COMMON LAW
Plan A Of S$100,000 S$200
Plan B Of S$250,000 S$300
Plan C Of S$500,000 S$500

These products are covered under PPF Scheme.

Please contact us for a non-obligatory consultation.