Engineering Insurance
This kind of insurance is the ideal cover Loss or Damages to different kinds of construction projects such as buildings, roads, bridges & other civil constructions. This Policy covers the policyholder against any unforeseen and unexpected physical loss or damage from any cause. It also provides full coverage protections against risk related with erection all risk, contractors all risk, working of any machinery, plant or equipment, electronic equipments, machinery break down, boiler/ pressure plant insurance, Marine cum erection, loss of profit(machinery), contractor all risk etc. Some types of engineering insurance policies are:
- Contractor's Plant and MachineryThis type of policy includes damage or losses of expensive machinery, for construction contracting business. This insurance protects business from these losses. This insurance cover on partial or total damage to equipment or machinery, Insured plant and machinery for any physical damage by any cause (unless specifically excluded), covers all insured items whether at work, rest, or being dismantled for cleaning and overhauling or in the course of the aforesaid operations themselves, or when being shifted within the premises, or during subsequent re-erections but in any case only after successful commissioning.
- Electronic Equipment Insurance PolicyThis type of policy provides complete coverage for electronic equipment which includes physical loss or damage to all the electronic equipments, whether the in secured items at work or at rest or being dismantled for the purpose of cleaning, overhauling or of being shifted within the premises or in the course of the aforesaid operations themselves or during subsequent re erection but in any case only after successful commissioning.
- Contractors All RiskThis type of policy provides coverage for property damage and third-party injury or damage claims which include improper construction of structures, damage that happens during a renovation and damage to temporary work erected on-site. Third parties, including subcontractors, if they get injured while working at the construction site.
- Erection All riskThis type of policy provides coverage to the risk of loss which arises out of erection and installation of machinery plant and steel structures, including physical damage to the contract works, equipment and machinery, and liability for third-party bodily injury or property damage arising out of these operations.
- Marine cum erectionThis type of policy provides coverage to principal and contractors and also to the manufacturers and suppliers erecting machinery and plants against financial loss due to any sudden unforeseen cause resulting in loss or damage to the property insured at the project site whilst being stored erected, tested and commissioned.
Sub Products
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Contractor's Plant & Machinery
This type of policy includes damage or losses of expensive machinery, for construction contracting business. This insurance protects business from these losses. This insurance cover on partial or total damage to equipment or machinery, Insured plant and machinery for any physical damage by any cause (unless specifically excluded), covers all insured items whether at work, rest, or being dismantled for cleaning and overhauling or in the course of the aforesaid operations themselves, or when being shifted within the premises, or during subsequent re-erections but in any case only after successful commissioning.
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Electronic Equipment Insurance
This type of policy provides complete coverage for electronic equipment which includes physical loss or damage to all the electronic equipments, whether the in secured items at work or at rest or being dismantled for the purpose of cleaning, overhauling or of being shifted within the premises or in the course of the aforesaid operations themselves or during subsequent re erection but in any case only after successful commissioning.
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Contractor's All Risk
This type of policy provides coverage for property damage and third-party injury or damage claims which include improper construction of structures, damage that happens during a renovation and damage to temporary work erected on-site. Third parties, including subcontractors, if they get injured while working at the construction site.
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Erection All Risk
This type of policy provides coverage to the risk of loss which arises out of erection and installation of machinery plant and steel structures, including physical damage to the contract works, equipment and machinery, and liability for third-party bodily injury or property damage arising out of these operations.
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Machinery Insurance
It covers the insured machinery items which suffer any unforeseen and sudden physical loss or damage.
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Insurance Claims
Renew Your InsuranceFrequently Asked Questions
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What is Insurance?
Insurance is a contract between an individual and the insurance company wherein an individual gets compensation against the losses from an insurance company. The insurance companies work by collecting small amounts of money from its clients and fund that money together to pay for damages.
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Why do people need insurance?
Insurance is a protection against the unexpected incidents. Insurance product helps people in not only mitigating risks but also helps by providing a financial moderate against adverse financial burdens suffered. It helps people to manage risks, own a home, drive vehicles, maintain current standard of living, cover health care costs, run a small business, take vacations etc.
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How many types of Insurance are there in the market?
There are two types of insurance Life insurance and Non-life or General insurance i.e. Life insurance includes term life, whole life, endowment, money back, children policy etc. and Non-life insurance includes health insurance, vehicle Insurance, property insurance and fire Insurance.
