Installation of machinery or equipment always entails a risk of loss or damage. Such eventualities can put a break in implementation, cause financial burden and leave you feeling you have no control.
The Erection All Risk (EAR) insurance covers loss or damage to projects that involves erection/installation of plant, machinery, and equipment ranging from erection of a single machine to a large power plant. It protects a contractor or employer against physical loss or damage to the contract works, construction plant and equipment or machinery. It also includes cover for damage to property of third parties and bodily damage to third parties
The policy can be taken out in the joint names of the contractor and the employer. All parties involved in any kind of construction may be insured:
EAR cover begins from the time of unloading of the first consignment at the project site and terminates on completion of testing or handing over of the project to the principal employer, or the period chosen, whichever is earlier.
The following are the eventualities against which you are covered:
Below are the available add-ons you can avail to extend your insurance cover:
Your search for the best Erection All Risk insurance plans ends at PolicyBazaar. We help you compare Erection All Risk insurance plans available in India by offering best-suited insurance quotes. We also let you compare plans based on features, coverage, etc. Just fill in your basic details such as age and annual income earned. Thereafter, we will not only calculate the amount of EAR insurance you need but also choose the best plans from top insurers.
All you have to do is to compare them side by side on parameters of premium, amount of coverage and additional benefits. Thus, you will make an informed choice and buy the policy hassle-free.
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The Erection All Risk (EAR) policy offers coverage against any physical loss/damage caused due to construction work, installation of machinery, etc. Not only this, it will also take care of any damage caused to third-party properties (including bodily damage).
A few cases covered under this policy are fire, lightning, explosion, aircraft damage. It also covers any flood, cyclone, storm, landslide and related problems. In case any damage has been caused to your construction property due to malicious acts such as strike or riots, it would also be covered under the policy.
However, before forwarding the claim letter to the insurer, please make sure that the claimant has mentioned her/his contact details on the form including her/his address as well as a phone number.
Please ensure that you don’t make any payment towards the third party until and unless you have been instructed by us to do so.