Erection All Risk
What is Erection All Risk?
The Erection All Risk insurance policy covers any loss or damage that occurs during the installation of machinery or equipment. It financially protects an employer or contractor from physical loss or damage.
Who should purchase this policy?
- Contractors
- Owner or Purchaser
- Supplier
Benefits/Coverages of the Policy
- Covers entire period instead of annual policy
- Burglary & Theft
- Natural Disasters like earthquakes, floods, cyclones, etc.
- Fire & explosion
- Short circuit
- Mechanical Breakdown
Ad-Ons
- Third Party Liability
- Air Freight
- Additional Customs Duty
- Maintenance Cover
- Express Freight
Exclusions of the Policy
- Damage due to Wars or Nuclear Weapons
- Inventory Losses
- Damage due to Faulty Design or Planning
- Willful Negligence
- Loss due to normal wear & tear