Erection All Risks Insurance
Why Erection All Risks Insurance Protection ?
This Policy protects your financial investment in a project either as a Principal or as a Contractor. The policy can be taken by you as the Principal, Contractor, and Sub Contractor either individually or jointly.
What the Policy covers ?
The policy offer covers at various stages of the projects including Storage, Erection, Testing, and Commissioning. This is a comprehensive policy to cover damage to your project arising from all unforeseen circumstances subject to certain named exclusions.
Scope of cover ?
It covers all physical losses and damages arising from:
Fire, Lightning, Theft, Burglary and House breaking.
Impact from falling objects, collision, failures of cranes or tackles etc.
Testing & commissioning risks:-
Failures of safety devices, leakage of electricity, insulation failures, short circuit, explosion (Applicable to EAR Policy only).
Risks of Human element:-
Carelessness, negligence, faults in erection, strike & riot, malicious damage, terrorism.
Acts of God:-
Storm, tempest, hurricane, flood, inundation, subsidence, landslide, rockslide and earthquake.
What the Policy does not cover?
Your policy does not provide coverage for loss or damage resulting from
- Normal Wear and Tear, Gradual Deterioration, Rust
- Cost of rectification or correction of any error during erection not resulting in physical loss or damage
- Policy Excess – This is the first amount of any claim that you have to bear
Please read the policy for complete list of exclusions.
What can be covered on payment of additional premium ?
You may extend your policy by paying additional premium. Major optional extensions available are
Note: The details furnished above are only a summary of product features and do not describe the entire terms, conditions and exclusions of the Policy. For further details or clarifications on the Policy, please refer policy wordings attached.
Get in touch with us
At Ethika, we understand that Insurance Broking is about ensuring the best interest of our customers and establishing trust. Our team has diverse experience and strong expertise which enables us to understand your business needs and your risks well. Our experts are highly innovative and they deploy the latest technology tools to bring Speed, Effectiveness and Utmost Responsiveness to your doorstep.
#88, Above MRF Tyres,
Gachibowli – Miyapur Rd,
+ 91 84980 94601
Wework Raheja platinum Building
Sag Baug Road, Off, Andheri – Kurla Rd,
Marol, Andheri East,
Mumbai, Maharashtra 400059
+ 91 22 2640 8431
Ethika Insurance Broking Pvt. Ltd. IRDAI Certificate No: 574, Date of License: 8th Aug 2016, License valid till 7th Aug 2019,
Registered Address: 517, B Block, Vijaya Raghwa Township, Nallagandla Bypass Road, Lingampally. 500019
Principal Officer: Susheel Agarwal, Contact Details of Principal Officer: email@example.com +91 8498094600,
Directors: Susheel Agarwal and Suresh Agarwal, Category of License: Direct (Life and General).
Comments are closed.