Engineering All Risks (EAR) Insurance Policy | Get Instant Quotes Online What Is Engineering All Risks Insurance And What Does It Generally Cover?
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What Is Engineering All Risk Insurance And What Does It Generally Cover?

What Is Engineering All Risk Insurance?

The birth of Engineering All Risk Insurance policy (EAR Insurance) has been resulted as a relation to projects for construction. The engineering all risk insurance policies in India are particularly designed in a way that it covers the risk of loss that are attributable to the installation and erection of steel structures and plant, machinery and equipment.
EAR insurance policy also covers the damage to property and liability of bodily injury to third parties caused while undergoing the operations stated above. An elective coverage can be the coverage for start-up delay costs. There is a number of engineering risk insurance companies in India that offer these policies online. You can instantly get quotes online by simply visiting the insurance provider’s website.
The parties that are covered under engineering all risk insurance policies are the following:
• General contractor
• Subcontractors
• Manufacturers and suppliers of equipment involved in the operations (in some cases only)


Engineering All Risk Insurance Policy Coverage

Engineering all risk insurance policy in India without doubt covers widespread risks to which a construction project is exposed to – from the initial stage of ordering of material at the construction site till the successful testing and completion of the project.
Engineering all risk insurance plan is considered to be extremely helpful for contractors, owners, consulting engineers, architects and investors since it leads to the reduction of overall erection and construction expenses. This insurance policy offers protection against unforeseen accidents leading to heavy financial losses. Find out the coverage under engineering all risk insurance policies below.
Depending upon the type of engineering all risk insurance plan you decide to purchase online, the policy may include many offer coverage for the following:
• Erection Coverage.
• Damage due to foreign objects , collapse, impact damages.
• Riot, strike, malicious acts.
• Subsidence, Landslide, and rockslide.
• Burglary and theft.
• Fire, lightning, explosion, aircraft damage.
• Human errors, negligence.
• Short-circuiting, excess voltage, arcing etc. are covered under engineering all risk insurance policy.
• Electrical and mechanical breakdown.
• Faults in erections.
• Inundation, flood, storm, cyclone, and allied perils are covered under engineering all risk insurance online.
• Any other unforeseen, sudden, accidental damages are not explicitly excluded from the policy.
The engineering all risk insurance policy also provides cover against legal liability that can arise to a third party for property damage or bodily injury in the event of an accident at the construction site. In addition, optional add-on covers can also be opted like clearance and removal of debris, storage risk at fabricators sites, air cargo, third-party liability, cross liability etc with the engineering all risk insurance online.


What Is Not Covered Under Engineering All Risk Insurance in India?

Engineering all risk insurance policies are unquestionably designed to cover various threats of loss coming out of installation of plant, machinery and engineering structures, physical damage to the constructional works, machinery and tools, and liability for third party property damage or bodily injury occurring in the event of any of these operations.
Engineering all risk insurance for delay in start-up costs is characteristically a voluntary coverage. But not everything will be covered under the engineering all risk insurance policy. Just like any other insurance policies in India, engineering all risk insurance online also has a number of exclusions.
Depending upon the type of engineering all risk insurance, exclusions will vary. Some of the most prominent and common exclusions under engineering all risk insurance include as follows:
• Engineering all risk insurance doesn’t cover any consequential Loss.
• Breakage of Glass.
• Cessation of Work.
• Loss of drawings, files, cash, cheques etc are not covered under engineering all risk insurance.
• Design Defects, Aesthetic defects, Faulty design.
• Any damage directly caused by pressure wave caused by aircraft/other aerial devices.
• Defects or faults existing at the time of commencement of insurance, which were/ ought to have been, known by the insured.
• Derangement not accompanied by damage or else covered by engineering all risk insurance policy.
• Disappearance or Shortage (Inventory Losses)
• Electrical /mechanical breakdown.
• Defective Material or Bad workmanship.
• Equipment undergoing testing.
• Loss or damage due to explosion of boiler/pressure vessel.
• Loss or damage for which supplier/manufacturer is responsible either by law or contract.
• Loss/damage due to overload experiments or tests that require imposition of abnormal conditions is not covered under engineering all risk insurance plans.
• Loss/damage to exchangeable operating media and tools.
• Making Good or Normal Maintenance.
• Nuclear Radiation, Nuclear Reaction or Radioactive Contamination.
• Plant/machinery working underground.
• Terrorism.
• Whilst in transit.
• Vehicles designed and licensed for general road.
• Total or partial immersion in tidal waters.
• War Invasion.
• Willful Act or Willful Negligence of the Insured.


How GIBL Can Help You With Engineering All Risk Insurance Online?

GIBL, being one of the largest online insurance distributers in India, provides the best engineering all risk insurance plans. The engineering all risk insurance policy that we offer you to buy comes at an affordable price and offers comprehensive protection against a number of risks related to engineering and constructional works. You can get instant quotes on engineering all risk insurance online from our site easily.

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