This policy provides cover against Accidental Damage to Machinery and Equipments being erected.
- Policy comprises of two sections:
- Material Damage: Covering physical loss, damage or destruction of the propertyInsured by any cause, other than those specifically excluded in the policy.
- Third Party Liability: Covering the legal liability falling on the insured contractor as a result of bodily injury or property damage belonging to a third party.
- Period of Insurance should be equivalent to the period of contract.
- Cover can be taken by the Principal Contractor or Sub-contractor jointly or separately
- The Sum Insured under material damage section should represent total contract value
- including cost of erection, customs / excise duty, freight, insurance charges, etc.
- Optional covers available on payment of additional premium:
- Third party liability.
- Clearance and removal of debris.
- Maintenance extended maintenance cover. Express freight / overtime charges.
- Airfreight charges.
- Additional customs duty.
War, Civil war, Nuclear-related risks, damages under manufacturer’s guarantee, losses at the time of taking inventory, consequential losses, normal wear and tear, cost of rectification of an error during erection unless resulting into a physical loss.
For details refer to policy wordings.
To help us process your request, kindly send the filled and signed Application to
Fax: 920005444 Ext: 444 Or scan it to Customer Care Email: email@example.com