Suggested
Commercial Insurance
Securing Every Stage of Your Project's Journey
Coverage Highlights
Comprehensive cover for your ProjectsAll Risk Cover
Provides broad protection under a single policy, covering all risks unless specifically excluded
Suitable for
A diverse array of projects, especially those involving the setup and installation of machinery and equipment, such as industrial plants, power projects etc
Broad Scope of Cover
Cover interest of Key Stakeholders like Principal, Contractor, Financiers & others
Coverage Across All Project Stages
Covering all phases, including storage, erection, testing, commissioning, maintenance, and any necessary extensions
Inclusions
What’s covered?Material Damage
Protection against physical damage to structures, machinery, and equipment during storage, assembly, erection, and testing
Theft and Burglary
Protection against theft and burglary of materials and equipment
Natural Calamities
Coverage for damages due to natural disasters like floods, earthquakes, and storms
Accidental Damage
Protection against accidental damage during the erection process
Third-Party Liability
Coverage for bodily injury or property damage to third parties caused by project activities
Testing and Commissioning
Coverage for damages during the trial run or testing period
Note
Please refer to policy wordings for detailed list of inclusions
Exclusions
What’s not covered?Defective Design or Workmanship
Losses due to faulty design, materials, or workmanship
Wear and Tear
Damage from normal wear and tear, gradual deterioration, or corrosion
Wilful Misconduct
Losses caused by intentional acts or gross negligence
Nuclear Risks
Damage due to nuclear reactions radiation, or contamination.
Consequential Losses
Indirect losses such as penalties, loss of market, or delay in completion
Inventory Shortages
Losses discovered during inventory checks without evidence of an insured peril
Contractual Penalties
Penalties or fines imposed under contractual agreements
War and Terrorism
Losses resulting from war, invasion, acts of foreign enemies, hostilities, or terrorism
Note
Please refer to policy wordings for detailed list of exclusions
Erection All Risk Insurance is a specialized coverage designed to protect construction and installation projects during critical stages such as assembly, erection, and commissioning. It is particularly important for large-scale projects that involve heavy machinery, industrial plants, or complex infrastructure setups.
This policy covers a wide array of risks, including accidental damage, theft, natural calamities, and other unforeseen events that may occur during the erection phase. By offering protection against these risks, the policy ensures that stakeholders—including contractors, engineers, and developers—are financially safeguarded during the vulnerable stages of project execution.
Whether it’s machinery breakdowns, damage from weather conditions, or accidents during installation, Erection All Risk Insurance minimizes potential disruptions, ensuring that the project proceeds smoothly and without costly delays. With this comprehensive coverage, professionals can focus on completing their projects efficiently while maintaining financial security against unexpected challenges.
Erection All Risk Insurance offers comprehensive protection for construction projects during the erection, installation, and commissioning phases. It covers a range of risks, including material damage, theft, and third-party liabilities, ensuring financial protection for contractors, engineers, and developers.
This specialized policy safeguards the project from unexpected events, minimizing disruptions and ensuring smooth progress. By covering potential setbacks, it enables stakeholders to focus on completing the project efficiently without worrying about unforeseen financial losses, providing peace of mind throughout the critical stages of construction and installation.
This policy is essential for contractors, engineers, developers, and stakeholders involved in large infrastructure projects such as power plants, industrial installations, and commercial construction. It also protects financiers and third-party investors who have a financial stake in the project.
Erection All Risk Insurance is essential for protecting the financial health of projects during high-risk stages like erection and installation. It provides coverage for accidental damage, theft, and natural disasters, ensuring that unforeseen costs do not disrupt progress.
By addressing these potential risks, the insurance helps protect stakeholders, including contractors and developers, from financial setbacks. With this comprehensive coverage, projects can continue smoothly, minimizing delays and maintaining financial stability, allowing for the successful completion of the project without the worry of unexpected incidents.
Erection All Risk Insurance offers a comprehensive package that protects projects from a range of potential risks. Below are the key features of the policy:
Details | |
All-Risk Coverage | Covers all risks unless specifically excluded. |
Material Damage | Protection for machinery, structures, and equipment during erection and testing stages. |
Third-Party Liability | Provides coverage for bodily injury or property damage to third parties caused by the project. |
Testing & Commissioning | Coverage extends to the testing and commissioning phases of the project. |
Wide Scope | Ensures protection across all project stages from storage to maintenance. |
Erection All Risk Insurance covers a wide range of risks, including:
● Material Damage: Protection against physical damage to machinery, structures, and equipment during assembly and erection.
● Theft and Burglary: Coverage for the theft of materials and equipment during the project phase.
● Natural Calamities: Protection against damages caused by floods, earthquakes, or storms.
● Accidental Damage: Coverage for any accidental damage during the erection and installation process.
● Third-Party Liability: Ensures coverage for injuries or property damage caused to third parties due to project activities.
● Testing and Commissioning: Provides protection during the trial runs or testing phases, ensuring comprehensive coverage across all project stages.
Get instant access to your policy details with a single click.
Erection All Risk Insurance can be enhanced with additional add-ons to further protect your project. These include:
Add-on Cover | Details |
Loss of Profit | Covers income loss caused by delays or stoppages in project completion. |
Transit Insurance | Provides protection for machinery and materials while in transit. |
Owner’s Damage | Extends coverage to damages to property owned by the insured during installation. |
Extended Warranty | Ensures additional coverage for machinery and equipment after installation. |
Erection All Risk Insurance does not cover:
● Defective Design or Workmanship: Losses caused by faulty design, materials, or workmanship.
● Wear and Tear: Damage due to gradual deterioration or corrosion.
● Nuclear Risks: Damages caused by nuclear reactions or radiation.
● Consequential Losses: Indirect losses like penalties or project delays.
● War and Terrorism: Losses arising from war, terrorism, or acts of foreign enemies.
Step-by-Step Guide
How to Buy
0
Visit the Bajaj Allianz General Insurance website
1
Fill in the lead generation form with accurate details
2
Get quote, make payment and receive the policy documents
How to Renew
0
Contact the Policy Issuing Office
1
Review expiring policy and share necessary details
2
Receive renewal quote
3
Make renewal payment
4
Receive the renewed policy documents via email
How to Claim
0
Contact us through our customer service touchpoints
1
Submit the claim form along with the necessary documents
2
Provide details of the incident and any supporting evidence
3
Cooperate with the claims investigation process
4
Receive the claim settlement as per the policy terms
Know More
0
For any further queries, please reach out to us
1
Toll Free : For Sales :1800-209-0144
2
Email ID: bagichelp@bajajallianz.co.in
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Reliable Protection
Bajaj Allianz’s Erection All Risks Insurance gave us complete peace of mind during our project. The coverage was comprehensive, and their support was proactive at every step.
Rajesh Mehta
Pune
15th Mar 2023
Hassle-Free Claims
I was impressed by how quickly Bajaj Allianz processed my claim when we faced an unexpected mishap during the erection phase.
Ankita Sharma
Ahmedabad
10th Aug 2022
Excellent Coverage & Service
With Erection All Risks Insurance, we felt secure knowing that our project was well-protected. The policy covered all major risks, and the Bajaj Allianz team was always available for assistance.
Vikram Iyer
Bengaluru
22nd Jun 2023
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