Engineering

Contractors All Risk insurance provides comprehensive coverage for construction projects and contractors involved.

It offers protection against a wide range of risks that can occur during the construction process, such as accidental damage to the worksite, materials, or equipment, as well as liability for third-party injuries or property damage. CAR insurance typically covers the construction works itself, including temporary structures, materials, tools, and machinery. It can also extend coverage to include additional perils like fire, theft, natural disasters, and even damage caused by human error.

It plays a crucial role in mitigating financial losses and ensuring that construction projects can proceed smoothly, offering peace of mind to contractors, developers, and stakeholders involved in the construction industry.

Deterioration of Stock insurance provides protection to businesses against financial losses resulting from the deterioration or spoilage of perishable goods or stock.

This type of insurance is particularly relevant for businesses that deal with perishable items, such as food, pharmaceuticals, or other temperature-sensitive products. DOS insurance typically covers losses caused by factors such as power outages, equipment breakdowns, mechanical failures, or accidental damage to refrigeration or cooling systems. It provides compensation for the cost of spoiled or damaged stock, including the cost of replacing or disposing of the spoiled goods.

Deterioration of Stock insurance helps businesses manage the financial risks associated with perishable inventory, ensuring that they can recover the value of their damaged or spoiled stock and continue their operations smoothly.

This policy can be taken only in conjunction with Machinery Breakdown insurance and not on a standalone basis.

Contractors Plant and Machinery insurance is a specialized insurance policy that offers comprehensive coverage for construction machinery, equipment, and tools used in construction projects.

It provides protection against various risks, including theft, accidental damage, breakdown, and loss. CPM insurance typically covers a wide range of construction-related machinery and equipment, such as excavators, cranes, bulldozers, loaders, compressors, and power tools. The coverage extends to both owned and hired-in equipment. In the event of damage or loss, CPM insurance provides financial compensation for repair or replacement costs, minimizing the impact on the contractor's finances.

This insurance is crucial for contractors as it helps them mitigate the risks associated with costly machinery and equipment used in construction, ensuring that their projects can proceed without significant financial setbacks in case of unforeseen events.

Machinery Breakdown insurance is designed to protect businesses from losses resulting from sudden and unforeseen breakdowns of machinery and equipment.

It provides coverage for repair or replacement costs, as well as the resulting business interruption and loss of income due to the breakdown. Machinery Breakdown insurance typically covers a wide range of equipment, including manufacturing machinery, generators, boilers, refrigeration units, and other critical operational machinery. It helps businesses mitigate the financial impact of machinery failures caused by various factors such as electrical damage, centrifugal forces, shortage of water in boilers, foreign bodies, failures in safety devices, overheating, impact, shock, pressure or lubrication defects.

By providing prompt financial assistance for repairs and minimizing the resulting downtime, Machinery Breakdown insurance enables businesses to resume operations quickly, ensuring continuity, and safeguarding against significant financial losses.

Electronic Equipment coverage protects businesses against financial losses resulting from damage or breakdown of electronic equipment and systems.

This insurance is particularly relevant for businesses that heavily rely on electronic devices and technology for their operations, such as computer systems, servers, communication equipment, and specialized electronic machinery. Electronic Equipment insurance covers various risks, including accidental damage, theft, power surges, mechanical or electrical breakdowns, and even operator errors. In the event of damage or breakdown, the policy provides coverage for repair or replacement costs, as well as any resulting business interruption and data recovery expenses, media costs or increased cost of working.

This insurance plays a crucial role in minimizing the financial impact of electronic equipment failures, ensuring that businesses can quickly recover and restore their operations.