Working on projects such as erecting thermal power stations, fertilizers plants, oil refineries or installation of factory facilities is risky. It can bring about risks both to contractors and the principal. Safeguarding yourself and others involved is important. Engineering Insurance covers you against these risks.
The Engineering Insurance provided in Chennai is one of its kinds that offers great services and provides you with some of the best Insurance companies in India to cover against the risks.
What does the policy cover?
The Engineering Insurance policy covers risks associated with storage, assembly/erection and testing of plant and machinery. All perils are covered in this policy unless specifically excluded.
This cover begins from the moment of unloading of the first consignment at the project site and ends on testing completion process or handing over the project to the Principal (whichever is earlier).
- 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 erection
- 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
- Clearance or removal of debris
- Third party liability
- Extended maintenance
- Damage to owner’s surrounding property
- Express freight
- Additional customs duty
- Holiday and Overtime rates and wages
You want a person who understands your risks, offers suggestions, details and guides you in buying or renewing your insurance policy, that’s where we come in.
We provide you with the services of giving complete and honest details. We make suggestions based on your requirements and we help you choose the best Insurance company and policy in the country that will suit your needs.