Engineering Insurance & Machinery Breakdown Insurance

If plant and machinery is central to your business, then you already know the risks that accompany installing and erecting the same; they have severe financial implications.

Our Erection All Risks (EAR) Insurance Policy is a type of Engineering Insurance Policy that has been designed to cover you for losses during erection and/or installation of mechanical or electrical plants. The policy also covers you for losses during the testing and commissioning.

The Erection All Risks Policy offers holistic coverage for when your company undertakes the setting up of a new project, expanding an existing project or dismantling and re-erecting an existing project. You’re covered right from the time of unloading of the first consignment to its testing.

A construction site is like a house of cards – one wrong move and it can all fall apart. Accidents can lead to not just financial losses but also bodily injuries. Accidents can also damage prior work on the site and make it impossible to meet the deadlines.

Knowing that construction sites are susceptible to such kinds of risks, only the brave hearted, like you, get into the business. But you need adequate protection and we, at Bajaj Allianz, offer Contractors All Risks Insurance to safeguard your business.

Contractors' all risks (CAR) insurance, is a comprehensive Insurance to cover mainly all kinds of Civil Construction projects (such as construction of buildings, factories, roads, bridges… to name a few). It provides cover to the Property damaged or destroyed by any cause, other than those specifically excluded.

Plant and equipment are the facilitators of any work done on construction sites. They do all the heavy lifting, quite literally. Any damage to your plant and equipment can bring a complete halt to work on the construction site, which is the last thing you want, we know.

In such a scenario you will need to get your plant and equipment quickly repaired or replaced but that’s not always a possibility as it calls for large funds.

Bajaj Allianz Contractor’s Plant and Equipment Insurance will take care of the repair and/or replacement costs for you so that the work on the construction site can begin again quickly and continue smoothly. 

Electronic equipment, such as computers, enable companies to run their daily operations smoothly and effectively. Any damage to your electronic equipment would disturb the functioning of your business leading to several undesirable consequences.

Bajaj Allianz Electronic Equipment Insurance Policy covers your electronic equipment against all types of risks, from physical damage to loss of data.

Electronic Equipment Insurance covers accidental, unforeseen and sudden physical loss or damage to electronic equipment against sudden & unforeseen physical damage by any cause or peril those which are not excluded under the Policy.

Electronic equipment like computers, printers, scanners, servers and data storage equipment’s can be covered in this policy.

Machinery breakdown is one of the worst things that can happen to a business because production without machinery and equipment is impossible and delivery schedules are usually tight. Not meeting them calls for penalties and tense business relations.

Having large funds to repair or replace the machinery and equipment at unexpected moments is not feasible. In such a case, having a backup plan is essential and our Machinery Breakdown Insurance Policy serves as exactly that. 

This machinery breakdown policy covers your machinery in case of an unforeseen sudden breakdown.

Some experts say that business and risk are two sides of the same coin. Running your own business, you may understand their sentiment. Respecting the wisdom of ‘better safe than sorry’, it’s important to take strategic actions to prevent risks and to minimize their impact.

Bajaj Allianz Risk Management Services will help you to not just predict and prevent potential risks but also prioritize decisions. This will help minimize the financial impact and will allow your organisation to continue working smoothly.

To know more about the inclusions and exclusions of our Engineering Insurance Policies, you can read our Engineering Insurance PDF.

Boiler Insurance will indemnify you against damage (other than by fire) to the Boilers and or Pressure Plants caused by and solely due to Explosion or Collapse.

There are certain extensions available under the policy such as Owners Surrounding Property and Third Party Liability on payment of additional premium.

We prefer that you get the  Boiler and Pressure Plant annually inspected by Inspectors appointed by the appropriate Government or  any independent competent person in order to comply with the warranty as per the policy conditions.