Engineering Insurance

Engineering Insurance

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.

Risks Covered

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:

  • Erection Coverage
  • Fire. Lightning, Explosion, Aircraft Damage
  • Riot, strike, malicious acts
  • Flood, inundation, storm, cyclone, and allied perils
  • Landslide, subsidence, and rockslide
  • Burglary and theft
  • Faults in erections
  • Human errors, negligence
  • Short circuiting, arcing, excess voltage
  • Electrical and mechanical breakdown
  • Collapse, damage due to foreign objects, impact damages
  • Any other sudden, unforeseen, accidental damages not explicitly excluded

Who can purchase this Insurance?

The policies are useful for owners (Principal), contractors, architects, consulting engineers and investors in a project or owners/financers of a manufacturing/assembling plant.


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