Erection / Construction All Risks insurance provides cover for engineering-related activities of a construction project or multiple projects. It covers accidental risks of physical loss, theft and damage to the contract works during construction as well as third party liabilities and compensation.
Many business owners are surprised when they find out that their usual Fire insurance excludes erection risks. The Erection All Risk policy is for erection and testing of Manufacturing units or individual machineries.
It can be availed for the entire project period starting from arrival of material at site up to the completion of testing and commissioning.
a) Cover for material damage or theft of contract works'.
b) Material damage to on-site plant and equipment and existing structures.
c) Third party bodily injury or property damage.
d) Advanced loss of profits
e) Transit cover.
1. Builders working on a construction project.
2. Sub-contractors who run their own projects on the side;.
3. Businesses which run their own projects.