Erection all risk plan offers material damage and third party liability cover. Custom duty, Invoice value, Freight and other temporary/permanent costs are covered as a part of the insurance to offer a wider coverage.
Policy can be designed to suit specifics of an engineering project. In addition to key coverages like material damage and third party liability, add-ons like design deffect and removal of debris can also be included.
We offer pre-negotiated premiums with leading private and public sector insurers to offer discounted rates. Option to pay premiums in installments is offered depending upon the size and tenure of the project.
EAR policy provide cover for all the stages of an under erection project that involves storage, testing, maintenance or commissioning. Extended maintenance period could also be offered for 12 to 24 months period
Engineering All Risk Insurance policies in India are designed to cover for risks that can arise due to installation and erection of steel structures and plant, machinery and equipment.
Such an insurance policy also covers for damage to property and liability of bodily injury to any third-party caused due to operation of your business. A rightly chosen coverage will protect you against a lot of unforeseen situations arising by virtue of the nature of your business. One should be wary of the nature of their business and the coverage available to be able to choose the right insurance policy and protect their business.
Below are the benefits of engineering all risk insurance policies.
Material Damage Cover
Covers Third Party Liability
Wider Extension Coverage
Engineering all risk policy in India covers for most of the perils associated with erection and installation of machineries for business. It is designed to cover for:
A rightly chosen engineering insurance can provide cover for a number of risks related to engineering and equipment. The parties that can be covered under engineering all risk insurance policies are the following:
An engineering all risk policy claim process is simple with SecureNow. In case of any damage to the project, you should immediately intimate the same to us by writing to us at firstname.lastname@example.org we’ll inform the insurance provider. We’ll need the nature and extent of the loss or damage to the project. Meanwhile, you should also take all the possible measures to minimize further loss. Insurer will appoint a surveyor for the inspection of the site. The SecureNow team will work with you to submit all necessary documents required by the insurance company during the claim process. We’ll assist you starting from claim intimation till the claim settlement and we will make sure you face minimal issues with the claim processing.
Not many insurers deal with such a personalized insurance policy as the engineering all risk insurance policy. SecureNow has been leading as a top engineering insurance broker in India for the past years and we can serve as your advisor to help you with the best engineering insurance based on your requirement. You just have to provide us with your basic details like name and contact details and an insurance expert will get in touch with you soon. Our insurance experts are trained to understand their requirements and provide the best quotes available to our clients. We work with all the insurers dealing with engineering insurance to be able to provide you with competitive quotes. Some of the insurers are: IFFCO Tokio, HDFC Ergo, ICICI Lombard, TATA AIG.
The common documents required engineering all risk insurance claim process are as below:
Additional documents may be required by the insurance company to process the claim. The SecureNow team will get in touch with you and guide you for every step of the claim process.
During the erection and installation of machinery, the dangers involved are high that can result in huge losses and damage to property. The risks can cause huge financial losses to the contractor. The policy offers cover at several stages of an engineering project, like Storage, Testing, Handling, and Commissioning at a plant or engineering site. So, How can you minimize the premium for Engineering All Risk Insurance?
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