There are different types of insurances mostly need are based on the industrial/commercial requirements under Engineering insurance. They are described briefly under each category.
Now you can protect your constructional plant, machinery and equipment as a contractor. This insurance gives you cover against fire and allied perils, theft, burglary, lack of skill and collision/impact. It also covers loss or damage caused by contractors during the visit to the site in order to fulfil the provisions of contractor’s obligations. There’s an additional premium for extensions of covers.
This insurance is granted for civil engineering projects from the time of arrival of the first lot of materials at the site and continues whilst work is in progress and during the maintenance period thereafter. This insurance gives you cover against fire and allied perils, theft, burglary, lack of skill, collision/impact, short-circuiting and machinery breakdown. It also covers loss or damage caused by contractors during the visit to the site in order to fulfil the provisions of contractor’s obligations.
This insurance helps you protect your hardware equipments such as computers, CPU, printers, stabilisers, UPS, bio-medical equipments and other similar electronic gadgets/equipments.
This insurance helps your plant and machinery by covering its cost of repairs or replacements of damaged parts which are resulted into accidental electrical and mechanical breakdowns. You can get them covered during the time machine is in operation, at rest or in process of dismantling and overhaul/during subsequent re-erection at the same premises.
This insurance covers all the risks and can be availed for any project from its inception. i.e. from the arrival of material, storage and erection. The policy can also be taken from supplier to site under MCE policy scheme. The sum insured must represent a complete value of plant and machinery including freight, customs duty and erection cost.