Erection All Risks
Policy overview
4Coverage
4Benefits
4Related
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