Engineering Insurance is a kind of property insurance that concerns with plant and machinery in all its forms, its basically connected with risks, which are inherent to the property insured.
| Types of Engineering Insurance covers provided by the company include: |
| 1) Contractors All Risks Insurance. |
| 2) Erection All Risks Insurance. |
| 3) Plant All Risks Insurance. |
| 4) Machinery Breakdown Insurance. |
| 5) Boilers Explosion Insurance. |
| 1) Contractors All Risks Insurance: |
| This type of insurance is very essential for all contractors as one of their requirements to cover the construction risks on their projects such as buildings, roads, bridges and other structures. |
| The Contractors All Risks Insurance provides the cover for both material damage to the project and third party liability. |
| 2) Erection All Risks Insurance: |
| This insurance is same as the above CAR insurance, the only difference that the Erection All Risks Insurance is designed for erection works such as Machinery in Transit, during Installation and Testing. |
| 3) Plant All Risks Insurance: |
| This insurance provides an All Risks insurance cover for heavy plant and equipment against the accidental damage risks originating from extraneous causes. The cover can be extended to include the road risks accidents and Third Party Liability. |
| 4) Machinery Breakdown Insurance: |
| All
forms
of
plant
and
machinery
which
have
moving
parts
and
embody
electrical
circuits
are
subject
to
the
risk
of
breakdown
which
can
be
insured
under
this
type
of
insurance. |
|
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