All-risks insurance generally covers accidental physical loss or damage unless excluded, within the insured subject matter and contract conditions. The term describes a broad coverage structure rather than an unlimited promise. Exclusions, deductibles, location limits, and valuation rules still determine the outcome.
A Nepalese project owner should examine contractors all risks insurance for defects, existing property, natural hazards, and testing conditions. Some risks may need an endorsement or another policy. The words all risks alone cannot establish protection for loss of income, professional errors, or every liability.