Erection All Risks
Policy overview
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Coverage
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Benefits
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Related
Scope of cover
Coverage Scope
Any unforeseen and sudden physical loss or damage to insured property from any cause (except exclusions)
Specific Perils Covered
- Fire and lightning
- Accidental damage
- Act of God events
- Testing and commissioning risks
- Third-party liability (with selected limits)
Full protection during erection project execution
Coverage for repair or replacement necessitated by damage
Policy benefits
Sum Insured: Not less than the full value of each item at completion including freight, customs duties, and erection costs
Premium: Depends on nature of erection work, period involved, type of civil works, and policy period
Comprehensive umbrella coverage for various project risks
Flexible premium based on project specifics