Engineering Insurance

Ensuring Protection for Machinery and Equipment

Safeguard your business against potential financial setbacks stemming from construction and installation ventures, regardless of their current phase. Additionally, secure protection for the machinery and equipment utilized in these projects through Engineering Insurance.

Tailored to offer comprehensive coverage for engineers and contractors operating in high-risk settings, this insurance addresses both the physical and economic perils inherent in such endeavors. Given the frequent occurrence of accidents in this field, which involves tasks such as working at heights, coupled with the ever-present threat of hazards like fire, this insurance proves invaluable

Engineering Insurance Policies include

Contractor’s All Risks Insurance

This policy is specially designed to cover the loss or damage to predominantly civil engineering construction projects, ranging from small villas to the construction of bridges and high rise towers. This policy also enables the contractor or employer to comply with the insurance requirements of the contract and can be issued on a project by project basis or as an annual policy covering multiple projects in a year.

Erection All Risks Insurance

Any loss or damage to projects that involve erection/installation of plant, machinery and equipment is covered by this policy; ranging from erection of a single machine to a large power plant.It protects a contractor or employer against physical loss or damage to the contract works, construction plant and equipment or machinery. It also includes cover for physical harm and damage to property belonging to third parties. The policy can be issued on annual basis covering multiple projects in a year or a specific project.

Contractor’s Plant and Machinery Insurance

This insurance policy provides coverage for unintentional physical damage to diverse types of plant, machinery, and equipment while in use at business premises or project sites. Whether these items are owned, hired, or leased, the insurance amount is determined by their new replacement value. It offers comprehensive protection against all risks, excluding mechanical and electrical malfunctions during operation or rest, in transit, and even during maintenance.

Machinery Breakdown Insurance

Essential for any entity utilizing technical plants or machinery, Machinery Insurance is crucial for both large industrial enterprises and small businesses. Unforeseen damage to machinery and equipment has the potential to impede the progress of a company's projects. This policy covers a diverse spectrum of machines and equipment in commercial and production facilities

All the above 4 categories of policies mentioned cover both Material Damage and Third-Party Liability. Material Damage encompasses physical harm, loss of property items, and damage caused by various factors. On the other hand, Third-Party Liability Insurance safeguards the client against liability towards third parties, covering injuries and vehicle damages resulting from contractor negligence.