Property insurance

With the property as a security for CHB in mind, the mortgagor is to insure the property and keep same insured against the perils of fire and other hazards, with CHB as beneficiary of the insured capital. In this case the insured capital is the reconstruction value of the property as stated in the appraisal report.

A ‘Construction All Risk’ (C.A.R.) insurance covers your building during its construction against various perils. Upon completion, it should be converted into a regular property insurance.