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Shriram Engineering Insurance

Shriram Engineering Insurance includes 5 different types of policies with extensive coverages for a smooth function of an industry/plant/construction site

Types of Shriram Engineering Insurance Policy

Contractor’s All Risk Insurance

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

What is Covered?
What is not Covered?

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

Erection All Risk Insurance

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

What is Covered?
What is not Covered?

Material Damage

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

Third-Party Liability

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

Electronic Equipment Insurance

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.

What is Covered?
What is not Covered?

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 Insurance

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

What is Covered?
What is not Covered?

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

Contractor’s Plant and Machinery

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.

What is Covered?
What is not Covered?

Loss/damage to the construction equipment

malicious damage, earthquakes, floods, storms, etc.

Work, rest or care-related damage

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

Boiler and Pressure Plant Insurance

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

What is Covered?
What is not Covered?

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

Frequently Asked Questions

Do portable devices have coverage under an electronic equipment insurance policy?

No. Dish Antennas and other portable devices such as notebooks, laptops, sonography are not included

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Blogs

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Does Car Insurance Cover Side View Mirrors?

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A common question among car owners is: does Car Insurance cover side view mirrors? The answer is not a straightforward "yes" or "no"—it is determined by your policy type. In India, your chances of being covered are higher if you have Comprehensive Insurance. However, if you only have Third-Party coverage, you will have to pay out of pocket. Let us begin by going over the specifics, so you know what to expect when dealing with damaged side-view mirrors.

Dashcam Buyers Guide: Everything You Must Know

Posted on 2025-03-21 07:10:50

A dash cam is a compact in-car camera that records video footage while you drive, acting as an unbiased witness in case of accidents, disputes, or insurance claims. It enhances road safety, provides legal evidence, and helps protect you against fraudulent claims. While a dash cam does not directly lower insurance premiums in India, it can prevent unjust claim settlements that may otherwise affect your policy. Whether you are a daily commuter, a road-trip enthusiast, or a fleet operator, choosing the right dash cam requires understanding its types, features, pricing, and installation process. This dashcam buyers guide will help you navigate these factors so you can make an informed decision.

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