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Shriram Engineering Insurance includes 5 different types of policies with extensive coverages for a smooth function of an industry/plant/construction site
Contractor’s All Risk Insurance covers all risks associated with construction projects (residential/commercial buildings, theatres, factory sheds, warehouses, roads, bridges, etc.) due to natural and man-made disasters
The policy coverage begins as soon as the first shipment of material is unloaded on site. And the coverage ends when the project is completed or handed over to the purchaser
Material damage by accidental physical loss
Third-party losses
War & Nuclear Risks
Wilful Act/Negligence
Partial/Total cessation of work
Normal wear & tear
Loss or damage due to faulty design
Consequential losses
Cost of replacement/repair or rectification of defective material and/or workmanship
The erection all risk policy offers comprehensive cover against physical loss/damage to the insured property that arises during the erection, maintenance or testing period of the machinery/equipment
The policy covers the property against loss, damage or destruction by any cause unless specifically excluded. The erection all risk insurance policy provides an all-risk cover that protects against sudden & unforeseen loss/damage occurring on the erection site during the policy period
The policy covers third-party property against loss, damage, destruction and third-party personal injury
War & Nuclear Risks
Wilful Act/Negligence
Partial/Total cessation of work
Normal wear & tear
Loss or damage due to faulty design
Consequential losses
Cost of replacement/repair or rectification of defective material and/or workmanship
The electronic equipment insurance policy will cover all electronic equipment like computers, microprocessors, medical/biomedical devices and audio/visual equipment, including the systems software. The electronic equipment includes the entire computer system consisting of CPU, keyboards, monitors, printers, stabilisers, UPS, system software, etc.
Any unforeseen and sudden physical loss or damage to electronic equipment from any cause, other than the exclusions
External data media and the expenses for reconstruction and re-recording of information
Increased cost of working
Loss or damage as a direct consequence of the continual influence of operation (e.g. wear and tear, cavitation, erosion, corrosion, incrustation) or gradual deterioration due to atmospheric conditions
Loss/damage for which the manufacture/supplier of the insured items is responsible either by law or under contract
Loss/damage to rented or hired equipment for which the owner is responsible either by law or under a lease/maintenance agreement
Consequential loss or liability of any kind
Aesthetic defects, such as scratches on painted, polished or enamelled surfaces
Machinery breakdown policy covers physical loss or damage to machinery and equipment against unforeseen accidents, electrical and mechanical breakdowns or damage to the insured items. The policy cover remains in effect when the machinery is in operation, at rest, dismantled, overhauled or during subsequent re-erection at the same premises
Unforeseen and sudden physical damage or loss to machinery at work or rest or being dismantled for cleaning or overhauling
Damage in the course of the machine operations, being shifted within the premises or during subsequent re-erection
Fire and related perils
Theft
Overloading experiments
Wilful acts or gross negligence
Gradual flaws/defects not necessitating immediate stoppages
Normal wear and tear
Consequential losses
Pre-existing defects
Terrorism
The policy provides coverage for the contractor's plant and machinery on the construction site, such as dumpers, rollers, heavy construction equipment, drilling machines, etc.
malicious damage, earthquakes, floods, storms, etc.
The policy covers damage resulting from work, rest or maintenance on insured property
Transit risks from site to site
Electrical & mechanical breakdown
Freezing of coolant or other fluids, defective lubrication, replaceable parts
Explosion due to steam pressure in I.C. engine
Wear and tear, rusting, testing for other purposes
War and nuclear perils
Pre-existing defects at inception
Wilful act/negligence of insured
Consequential loss/liability, inventory loss
Cost of alteration, improvement, overhauls, modifications, additions and material changes
The boiler and pressure plant insurance policy covers damage other than fire to boilers and pressure plants, surrounding property and third-party legal liabilities due to explosions/collapses while the boiler/pressure plant is in operation
Damage to both fired and unfired against losses due to explosion or collapse
Damage to surrounding property arising due to explosion or collapse of the Pressure Plant during its normal course of work
Third-party legal liability arising due to explosion or collapse of the Pressure Plant during its normal course of work
Fire and allied perils
War and nuclear perils
Overload experiments/tests imposing abnormal conditions
Gradually developing defects not necessitating stoppage
Normal wear and tear
Failure of individual tubes not leading to explosion / collapse
Loss/damage during application of test by inspecting authority or otherwise Wilful act/negligence
Pre-existing defects and faults
Consequential losses
Loss or damage for which the manufacturer or supplier or repairer of the property is responsible either by law or under contracts
No. Dish Antennas and other portable devices such as notebooks, laptops, sonography are not included
Your insurance policy is up for renewal.
Please renew your Insurance now for trouble-free driving.
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IRDAI Consumer Education:- Insurance is the subject matter of solicitation. IRDAI Registration Number - 137. CIN No. U66010RJ2006PLC029979. BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS. IRDAI clarifies to public that IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
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