ERECTION ALL RISK INSURANCE

This policy provides cover against Accidental Damage to Machinery and Equipments being erected.

 

Policy Highlights  

  1. Policy comprises of two sections:
    1. Material Damage: Covering physical loss, damage or destruction of the propertyInsured by any cause, other than those specifically excluded in the policy.
    2. 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.
  2. Period of Insurance should be equivalent to the period of contract.
  3. Cover can be taken by the Principal Contractor or Sub-contractor jointly or separately
  4. The Sum Insured under material damage section should represent  total contract value  
  5. including cost of erection, customs / excise duty, freight, insurance charges, etc.
    1. Optional covers available on payment of additional premium: 
    2. Third party liability. 
    3. Clearance and removal of debris. 
    4. Maintenance extended maintenance cover. Express freight / overtime charges. 
    5. Airfreight charges. 
    6. Additional customs duty. 

 

Exclusions

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: customercare@wafainsurance.com