National Erection All Risk Insurance

Established in Kolkata on December 5, 1906, the National Insurance Company Limited is India's oldest general insurance company. Initially aligned with the nationalist spirit for Swaraj, it merged with other entities in 1972 under the General Insurance Business Nationalisation Act. Achieving autonomy in 2002 as an independent insurance company, it severed ties with its holding company, GIC. With 1730 offices across India and a foreign office in Nepal, National Insurance boasts a strong presence supported by over 13,000 skilled employees and a network of 50,000 agents.

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National Erection All Risk Insurance: Inclusions

Coverage encompasses all risks incurred during storage, assembly, erection/construction, and testing, subject to specific exclusions. The covered risks include, but are not limited to:

  • Fire, lightning, explosion/implosion, aircraft damage
  • Flood, landslide, storm
  • Theft, burglary, riots, strikes, and malicious damage
  • Lack of skill, negligence, collision, impact, dropping, etc.
  • Mechanical/electrical breakdown during installation or testing

National Erection All Risk Insurance: Add-ons

By paying an extra amount, you can get coverage for the following perils:

  • Earthquake
  • Terrorism
  • Clearance and removal of debris
  • Third-party liability
  • Surrounding property of the policyholder
  • Escalation provision
  • Holiday, Express freight and overtime rates of the wages
  • Air freight
  • Additional custom duty
  • Construction machinery plants and equipment
  • Maintenance visits cover and extended maintenance cover

National Erection All Risk Insurance: Exclusions

The erection all risk insurance policy does not provide coverage for the following:

  • Ordinary wear and tear, gradual deterioration, etc.
  • Damage arising from faulty design, defective materials, or poor workmanship
  • Consequential losses, including revenue loss and penalties for delays
  • Inventory losses
  • Deliberate negligence
  • War and nuclear perils
  • Loss of or damage to deeds, files, stamps, notes, checks, drawings, securities, currency, evidence of debt, accounts, bills, and packing materials such as cases, boxes, and crates.

National Erection All Risk Insurance: FAQs

Policybazaar for Business - Erection Risk Insurance - Customer Reviews
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4 January 31, 2022
Good Deals
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4 January 30, 2022
Quicker Than Expected
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4.3 January 30, 2022
Health Cover
As we have started travelling again, I had book group Covid-19 health plan for me and my employees. We are travelling frequently now and obviously needed this health cover.
4 January 30, 2022
Quick Claims
For myself and my staff, I purchased group covid insurance. This cover was critical for us as a modest start-up. I purchased it through PolicyBazaar, and it arrived much sooner than I anticipated.