Engineering Insurance covers risks encountered by construction companies while executing projects as well as those faced by manufacturing units while operating the machineries. The selection of a specific policy suitable for a project/manufacturing process depends on its specific nature.
Engineering insurance covers a wide range of risks to which a project/manufacturing unit is exposed to, starting right from ordering of material at site till successful testing and completion of the project or the operational risks of machineries in a manufacturing unit The policy offers protection against unexpected accidents leading to huge financial losses.
Various engineering policies include following coverage:
The policies are useful for owners (Principal), contractors, architects, consulting engineers and investors in a project or owners/financers of a manufacturing/assembling plant.