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.

Get right expert advice

Hassle-free policy

Speedy Claims

Fast-track your search with instant quotes from prominent insurers

Mobile number

We don't spam

Get Updates on WhatsApp

View Plans

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

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

Q1: Why should I choose National Erection All Risk Insurance?

Ans: National Insurance Company Limited, established in 1906, is India's oldest general insurance company, providing a rich legacy of reliability and trust. The policy offers comprehensive coverage for a range of risks during storage, assembly, and construction, ensuring financial security.
Q2: What factors determine the premium for this policy?

Ans: Premiums are influenced by factors such as the project's scale, location, duration and the extent of coverage required. It's essential to discuss these details with a National Insurance representative for a customized quote.
Q3: Is there a waiting period before the coverage becomes effective?

Ans: Typically, coverage starts once the policy is issued and the premium is paid. However, it's crucial to clarify any waiting periods or specific conditions with the insurance provider.
Q4: Are there any renewal procedures, and how can I extend coverage if needed?

Ans: Renewal procedures will be communicated by the insurance provider. If you need to extend coverage for an ongoing project, contact Policybazaar in advance to discuss renewal options and potential adjustments to the policy.
Q5: What happens if I forget to pay my premium on time?

Ans: Timely premium payments are crucial to maintaining continuous coverage. However, Policybazaar sends you timely reminders to make sure that you pay the premium on time.

National Erection All Risk Insurance