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Commercial Insurance
Erection All Risk Insurance
Key Features
Securing Every Stage of Your Project's Journey
Coverage Highlights
Comprehensive cover for your Projects
All 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 for Construction Projects
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.
What is Erection All Risk Insurance?
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.
Who Needs Erection All Risk Insurance?
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.
Why Do You Need Erection All Risk Insurance?
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.
Key Features of Erection All Risk Insurance?
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. |
Benefits You Deserve
All Risk Cover
Covers all risk in a single policy unless specifically excluded
Broad Cover
Coverage provided is in its widest form for a Principal & Contractor
Tailor-made Covers
Can be customized to cover interest of various stakeholders
What does Erection All Risk Insurance Cover?
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.
Download Policy Document
Get instant access to your policy details with a single click.
Add-on covers under Erection All Risk Insurance
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. |
What is Not Covered in Erection All Risk Insurance?
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.
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Step-by-Step Guide
To help you navigate your insurance journey
How to Buy
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Visit the Bajaj Allianz General Insurance website
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1
Fill in the lead generation form with accurate details
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2
Get quote, make payment and receive the policy documents
How to Renew
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Contact the Policy Issuing Office
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1
Review expiring policy and share necessary details
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2
Receive renewal quote
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3
Make renewal payment
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4
Receive the renewed policy documents via email
How to Claim
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Contact us through our customer service touchpoints
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1
Submit the claim form along with the necessary documents
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2
Provide details of the incident and any supporting evidence
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3
Cooperate with the claims investigation process
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4
Receive the claim settlement as per the policy terms
Know More
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For any further queries, please reach out to us
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Toll Free : For Sales :1800-209-0144
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Email ID: bagichelp@bajajallianz.co.in
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What Our Customers Say
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
FAQ's
Who can apply for erection all risk insurance policy?
Businesses, contractors, and project managers involved in the installation and erection of machinery, industrial plants, power projects, and other construction projects can apply for an erection all risk insurance policy. This policy covers all stakeholders, including contractors and financiers.
What services does an erection all risk insurance policy offer?
An Erection All Risk Insurance policy offers comprehensive coverage for material damage, theft, burglary, accidental damage, third-party liabilities, and damage caused by natural calamities during the erection and commissioning phases. It ensures protection throughout all stages of the project.
Is there any specific time limit set for submitting claims under erection all risk policy?
Yes, there is typically a time limit for submitting claims under an erection all risk policy. Generally, claims should be reported within a specified period (often 7-14 days) from the occurrence of the damage or loss. Refer to the policy for exact timelines.
What is the difference between contractor all risk and erection all risk?
While both cover risks during construction, contractor all risk insurance provides broader protection for all aspects of construction, including material damage and third-party liabilities. Erection all risk insurance, on the other hand, is focused specifically on risks related to machinery erection, installation, and commissioning.
What is a Contractor All Risk Insurance?
The Contractor All Risk (CAR) insurance covers damages to a construction site, materials, and equipment during a project. It also includes third-party liability for accidental damage or injury caused at the site.
What is Erection All Risk insurance?
Erection All Risk (EAR) insurance covers risks involved in installing and testing machinery, plants, and equipment. It protects against accidental damages, including fire, theft, and breakdowns.
What is material damage under engineering insurance policy?
Under this, the company agrees with the Insured that if, during the policy period, the insured property (excluding packing materials) is lost, damaged, or destroyed by any cause not specifically excluded, requiring repair or replacement, the company will cover the loss up to the insured amount. It also covers debris removal up to the policy limits.
What is the reinstatement of the sum insured under engineering policy?
Reinstatement of the sum Insured means that after a loss or damage, the insurance coverage remains in force for the insured amount. The insured must pay a pro-rata additional premium on the full claim amount from the date of loss until the policy expires, ensuring continued protection without reducing the original sum insured during the policy peri
What is liability coverage under engineering insurance?
Liability coverage under engineering insurance indemnifies the insured against legal liability for accidental damage to third-party property, excluding property used in construction. It also covers liability for injuries to third parties, excluding employees or family members. It also covers litigation costs.
What is electronic equipment insurance?
Electronic equipment insurance protects businesses from losses due to accidental damage, fire, theft, or short circuits affecting electronic devices like computers, servers, medical equipment, and industrial electronics.
How can I choose the right engineering insurance policy?
Assess business needs, project risks, equipment value, and coverage options. Compare policies from different insurers, check coverage limits, exclusions, and premium costs, and seek expert advice to select the best policy that aligns with your requirements.
What is the claim process under engineering insurance?
For claim approval, the insurer appoints a surveyor within 72 hours of claim intimation to assess the loss. Within 7 days, the insurer or surveyor informs the claimant about the documents. The claim is processed based on the surveyor’s findings and policy terms
Is there a waiting period for claims?
Most engineering insurance policies do not have a waiting period for accidental damages. However, certain coverages, such as loss of profit due to machinery breakdown, may have a waiting period before claims can be made.
What is the basis of loss settlement under engineering insurance?
In the event of a loss or damage, settlement is based on repair costs to restore the property to its prior condition, deducting salvage. If the property is a total loss, settlement is based on its actual value before damage minus salvage. Total loss rules apply if repair costs equal or exceed the pre-damage value.
What documents are required to file a claim for engineering insurance?
Policy details, loss reports, and damage assessment reports are some of the common documents required to file a claim under an engineering insurance.
How long does it take to process claim requests?
The claim processing time for your claim request can differ from one insurer to another. We try to resolve your claim request as soon as possible.
Do I need to renew engineering insurance?
Engineering insurance may not always be mandatory but is often required for large construction projects, industrial plants, and businesses using heavy machinery. Many clients and regulatory bodies mandate coverage to protect against unforeseen losses.
Can engineering insurance be transferred to another company?
Engineering insurance is generally non-transferable. A new policy may be required if a project is transferred to a new contractor. However, in some cases, with insurer approval, policy endorsements can be made to accommodate ownership changes.
Can engineering insurance be customised during renewal?
Yes, engineering insurance policies can be customised based on business needs at the time of renewal. Policyholders can add coverage extensions, adjust coverage limits, or include additional protections for specific risks related to construction projects, equipment, or operations.
Who should I contact to renew my engineering insurance policy?
You can contact our customer support if you have invested in an engineering insurance policy from us. Our team will help you in ensuring comprehensive coverage for your project.
What is the process of renewing engineering insurance policy?
Talk to your insurance provider if you need to renew your engineering insurance plan. The renewal process can vary from one insurance provider to another.
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