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‍1. What is it?

The CAR (Construction All Risks) policy is an insurance designed for builders, contractors, or clients involved in the construction, renovation, or reinforcement of buildings or other civil structures. It provides protection against risks that may arise during the construction process, covering sudden and unforeseen damages or destruction of the work or related property.

2. What does It cover?
  1. Risks during the Construction Phase
    • Damage and Destruction: Covers physical damage caused by unforeseen incidents such as fires, storms, earthquakes, landslides, floods, and other construction-specific risks.
    • Construction Works: Includes ongoing construction or installation works, materials, and equipment used.
  2. Risks Related to Machinery
    • Property Section: Also covers machinery and equipment used in the construction, such as cranes, excavators, and other essential equipment. These can be insured separately for comprehensive coverage.
  3. Financial Risks for the Client
    • Financial Risk: The client of the construction is protected against financial losses that might occur due to damage or destruction covered by the policy.
‍3. How to obtain It?
  • Initial Consultation: Contact a broker or insurance agent specializing in construction insurance for a project evaluation.
  • Risk Assessment: Identify the specific risks of the construction project and the necessary equipment.
  • Policy Customization: The CAR policy can be tailored to include both the construction works and the necessary machinery, with extended coverage if needed.
  • Policy Issuance: Finalize the policy before starting the work to ensure all risks are covered.
  • 4. Useful Tips
  • Ensure All Risks are Covered: Discuss with the insurer to make sure the policy covers all critical aspects of the project, including machinery.
  • Document All Equipment: List and insure separately all construction machinery to avoid unexpected issues.
  • Monitor Work Progress: Ensure that all phases of construction are covered and that the policy is updated according to the progress of the work.
  • Prompt Damage Reporting: In case of an incident, notify the insurer immediately to facilitate the claims process.
  • 1. What is it?

    The CAR (Construction All Risks) policy is an insurance designed for builders, contractors, or clients involved in the construction, renovation, or reinforcement of buildings or other civil structures. It provides protection against risks that may arise during the construction process, covering sudden and unforeseen damages or destruction of the work or related property.

    2. What does It cover?
    1. Risks during the Construction Phase
      • Damage and Destruction: Covers physical damage caused by unforeseen incidents such as fires, storms, earthquakes, landslides, floods, and other construction-specific risks.
      • Construction Works: Includes ongoing construction or installation works, materials, and equipment used.
    2. Risks Related to Machinery
      • Property Section: Also covers machinery and equipment used in the construction, such as cranes, excavators, and other essential equipment. These can be insured separately for comprehensive coverage.
    3. Financial Risks for the Client
      • Financial Risk: The client of the construction is protected against financial losses that might occur due to damage or destruction covered by the policy.
    3. How to obtain It?
  • Initial Consultation: Contact a broker or insurance agent specializing in construction insurance for a project evaluation.
  • Risk Assessment: Identify the specific risks of the construction project and the necessary equipment.
  • Policy Customization: The CAR policy can be tailored to include both the construction works and the necessary machinery, with extended coverage if needed.
  • Policy Issuance: Finalize the policy before starting the work to ensure all risks are covered.
  • 4. Useful Tips
  • Ensure All Risks are Covered: Discuss with the insurer to make sure the policy covers all critical aspects of the project, including machinery.
  • Document All Equipment: List and insure separately all construction machinery to avoid unexpected issues.
  • Monitor Work Progress: Ensure that all phases of construction are covered and that the policy is updated according to the progress of the work.
  • Prompt Damage Reporting: In case of an incident, notify the insurer immediately to facilitate the claims process.
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    About MIB

    What Our Partners Say

    Over the years, MIB has consistently demonstrated professionalism, dedication, and a deep understanding of our mutual clients' needs.

    Our collaboration is built on shared values such as integrity, innovation, and a commitment to providing superior quality services. MIB is not just an insurance intermediary but also a true strategic partner, increasingly contributing to the success and development of Asirom.

    Madalin ROSU
    CEO - Asirom Vienna Insurance Group

    MIB, one of the top 10 brokers nationally, is also among the leading brokers distributing mandatory PAD policies. This not only highlights its success as a business but also under scores its significant social role in raising public awareness about the importance of financial protection for homes.

    MIB achieves these results thanks to its excellent market reputation and significant presence across all counties in the country. In 2023 and 2024, MIB increased the number of distributed PAD policies by nearly 30%, making us proud to be partners.

    Nicoleta Radu
    General Director - PAID

    Since the beginning of our collaboration in 2005, Generali Romania has enjoyed a trusted partnership with Millenium Insurance Broker.

    We continue to develop this partnership daily, providing smart solutions and services that respect our clients' time and meet their financial protection needs.

    Adrian Marin
    CEO - Generali

    OMNIASIG Vienna Insurance Group has a solid, long-standing collaboration with Millenium Insurance Broker. We have always found in them a reliable partner and a team of professionals we can count on.

    Together, we work towards the development of the insurance market in Romania, delivering quality products and services to clients promptly.

    Mihai Tecau
    Chairman of the Board - OMNIASIG Vienna Insurance Group

    A successful and lasting partnership, such as the one we have with the Millenium Insurance Broker team, is built on shared values and the desire to provide our clients with the best products and services.

    Congratulations on all that you do every day for your clients, and continued success.

    Calin Matei
    CEO - Groupama

    Insurance is about doing good—good in people’s lives, businesses, and communities. We are proud to have reliable distribution partners like Millenium Insurance Broker by our side.

    We share the same dedication to service excellence and have a common mission: to build a future with fewer worries and greater prosperity in Romania. Thank you for the solid partnership and for contributing to making things better.

    Virgil Șoncutean
    CEO - Allianz-Țiriac Asigurări

    Millenium Insurance Broker is a trusted and valuable partner for Romanian Airport Services. 

    For over 10 years, they have represented us with professionalism and dedication, consistently finding comprehensive insurance solutions, both nationally and internationally.

    Thanks to their efforts, our insurance protection needs have always been optimally covered.

    With appreciation and gratitude,

    Alexandra Huzuneanu
    CEO - Romanian Airport Services

    MIB is a trusted partner for the Autonom Group.

    I appreciate Ștefan and his team's professionalism, promptness, and swift support.

    Marius Stefan
    CEO - Autonom

    Millenium Insurance Broker has been our insurance service provider since 2019, right from the early days of Bright Communication. Thanks to their team of professionals and their client-focused approach, addressing the increasingly complex business needs of our industry, the relationship between our entities has evolved.  

    Today, MIB is one of our main partners. And not just any partner, but the one that protects us from risks.

    Jeni Grigorescu
    General Director - Bright Communication

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