Insurances: Limited defects coverage, EAR, Warranty Policies and Cover During Warranty / Defects Liability Period

Description

This Skill Bit explains the importance of understanding limited defects coverage in insurance policies, which may leave repair costs uncovered for post-policy defects. It discusses solutions like negotiating additional coverage or obtaining separate defects liability policies. Additionally, it explores Engineering All Risks (EAR) and Warranty policies that offer comprehensive coverage for construction-related risks, emphasizing the need to adhere to loss prevention guidelines and thoroughly review policy terms for effective risk management during warranty periods.

Duration approx. 4 Min.

Tier: proficiency