INSURANCE BENEFITS

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Engineering insurance is a type of insurance policy wherein a wide range of risks related to engineering are covered. It is a comprehensive insurance policy that offers economic safeguard against risks faced by ongoing construction projects, installation projects, and machines and equipment in project operation. Since this industry is about creating and designing, construction and building, there are increased chances of related accidents and perils. Thus, Engineering Insurance policy caters to different forms of uncertainties that are associated with on-site construction including plant and machinery usage.

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Our Insurance Policy

Contractor’s All Risk (CAR) Insurance

Covers physical loss or damage to works, materials, and equipment during construction projects.

  • Protection Against Unforeseen Events: Safeguards against accidents, natural disasters, and theft.

  • Financial Security for Contractors: Helps mitigate potential financial losses during project execution.

  • Comprehensive Coverage: Ensures broad protection across all stages of construction.

Erection All Risk (EAR) Insurance

Tailored specifically for the installation phase of machinery and structures.

  • Focus on Installation Risks: Protects against physical loss or damage during the erection process.

  • Financial Assurance for Contractors: Ensures security for those involved in installing heavy machinery and equipment.

  • Specialized Coverage: Addresses unique challenges faced during the installation phase.

Contractor’s Plant and Machinery (CPM) Insurance

Covers loss or damage to machinery and plant equipment used on-site.

  • Protection Against Various Risks: Includes coverage for theft, accidents, and operational damage.

  • Operational Continuity: Crucial for contractors to minimize downtime and maintain productivity.

  • Asset Safeguarding:Ensures valuable machinery is protected from unforeseen events.

Boiler and Pressure Plant (BPP) Insurance

Specifically covers boilers and pressure vessels against explosions and mechanical failures.

  • High-Risk Equipment Coverage: Provides financial protection for industries using high-pressure systems.

  • Safety Compliance: Ensures adherence to safety regulations and standards in operations.

  • Critical for Operational Integrity:Protects against potentially catastrophic failures.

Machinery Breakdown Insurance

Offers protection against mechanical or electrical failures of machinery.

  • Repair Cost Coverage: Helps cover expenses related to repairs due to breakdowns.

  • Income Loss Protection: Compensates for lost income during machinery downtime.

  • Vital for Operations: Essential for businesses that rely heavily on machinery for daily tasks.

Electronic Equipment Insurance

Covers electronic devices against theft, damage, or breakdown.

  • Comprehensive Coverage: Protects a wide range of electronic equipment used in business operations.

  • Financial Safety Net:Ensures businesses are financially protected from unexpected incidents..

  • Minimizing Operational Losses: Vital for reducing the impact of electronic equipment failures on productivity.

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They frequently asked
questions

? What does Machinery Breakdown Insurance cover?

It covers repair and replacement costs for machinery that experiences unexpected failures.

? Are all types of machinery covered?

Are all types of machinery covered?

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