National Erection All Risk Insurance

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