Property Insurance Covers

Property All Risks Insurance

Property policy provides protection to any property against various common threats such as fire, flood, storm, earthquake, burglary, accidental damage and other unexpected misfortune events.  All kinds of Assets mainly comprise of buildings, plant and machinery, furniture, fixtures, raw materials, stock in process, finished goods, office equipment, etc. can be covered under the property all risk insurance policy.

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Machinery Breakdown

Consider the unexpected occurrences that can damage machinery and cause expensive production delays or interrupt cash flow. This policy covers the breakdown of machinery due to various perils. This policy is indispensable for businesses that operate using a large number of machines. The breakdown of a single machine may bring the operations of the factory to a standstill. This policy covers monetary costs involved in restoration or replacement of machines.

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Electronic Equipment Insurance (EEI)

Most of the corporates today depend on computers, laptops and other electronic devices for their day-to-day functioning. But have you ever thought about how quickly could you get back on your feet if something happened to the equipments you rely on to do business?

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Money Insurance

Almost all businesses handle cash, cheques, and bankers’ drafts, making this form of insurance essential.

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Motor Vehicle Insurance

Motor Fleet Insurance is an insurance coverage any company buys to protect their motor vehicles against physical loss or damage and/or third party liability risks arising from the usage of motor vehicles.

The minimum and compulsory insurance cover is Third Party Liability Insurance cover which provides Unlimited Limit of coverage for death, bodily injury to third parties and/or loss, damage to third party properties.

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Contractor’s All Risks (CAR) Insurance

Construction is a high-risk industry. Accidents, including personal injuries and property damage, happen all the time, and these accidents may wreak havoc on your plans, schedules and costs even to the point of making you insolvent. So, you need an umbrella cover that will protect you during such times to ensure that you complete your project on time.

A CAR policy covers the physical damage to materials to be used for the project – whether in transit, in storage or forming part of the contract works. There is also an ancillary cover up to moderate limits for third party liabilities. It is a main feature of the CAR policy to cover those who have an immediate material interest in the project. That includes the owner, the contractor and usually all sub-contractors. The length of the period of insurance must correspond to the contract works.

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Erection All Risks Insurance

The basic concept of Erection All Risk insurance is to offer a comprehensive protection against ‘All Risks’ involved in erection and installation of major and complex plants and machineries. This is now an indispensable and integral part of any project – be it Gas Power Plant or Thermal Power plant project. Erection All Risk is a comprehensive insurance policy designed to cover all sorts of contingencies arising right from the moment the materials are unloaded at the project site.

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Contractor’s Plant & Machinery (CPM) Insurance

Contractor’s Plant and Machinery is an All Risks policy covering the plant and machinery of a contractor at specified work sites. The contractor’s machinery is generally used under rough conditions and so is more vulnerable to physical loss or damage. Breakdown of such machinery can jeopardize the completion of a project and put many other things at stake.

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