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CAR is abbreviation stand for the insurance cover that provides insurance coverage to the contractors and their related works , equipments and the third party during the period of insurance which is usually one in year in most of the insurance contracts , however it's likely be for a number of years e.g a five years contracts. In fact this is due to the nature of the contractors works which is CONSTRUCTIONS. So that CAR abbreviation stand for The Contractors All Risks Insurance. The insurance policy contains and covers the under mentioned items :-
1/ Contracts Works.
2/ Contracts Equipments
3/ Third Party .
EAR is abbreviation stand for the insurance cover that provides coverage to the machinery whilst under installation , however all other terms , conditions and nature of the cover is typically and a like the contractors all risk insurance policy .
So that the abbreviation EAR stand for Erection all risks insurance. The insurance policy contains and covers the under mentioned items :
1/ Erection of the machinery e.g for plants , factories ........etc
2/ Third party.
Thanking you , with my very best wishes.
CAR is Construction All Risk and EAR is Erection All Risk policy
