Engineering Insurance Kerala
Construction and engineering projects involve valuable assets, heavy machinery, complex operations, and risks that can lead to significant financial losses. Engineering Insurance helps protect your projects, equipment, machinery, and other engineering assets against covered risks, helping your business manage unexpected losses and maintain project continuity. AIMS Insurance Broking supports businesses in Thrissur, Kerala, and across South India with Engineering Insurance solutions suited to their projects, machinery, equipment, and operational risks.
Why Do You Need Engineering Insurance?
Protect Your Projects Against Unexpected Risks
Construction and engineering projects involve significant investments in materials, machinery, equipment, and labour. Unexpected events such as accidents, fire, natural disasters, theft, or damage during project work can result in costly losses and delays. Engineering Insurance helps businesses manage eligible financial losses and protect their project investments, subject to the policy terms.
Construction & Project Protection
Protection for eligible construction works and project investments against covered risks.
Machinery & Equipment
Coverage for eligible machinery, plant, and equipment against covered accidental damage or loss.
Protection Against Unexpected Losses
Helps businesses manage eligible financial losses caused by covered events during project operations.
Project Continuity
Insurance can help reduce the financial impact of covered incidents that may cause project disruption or delays.
Are there other types of engineering insurance?
Beyond CAR and EAR, businesses may also need other types of Engineering Insurance depending on their machinery, equipment, and operational risks.
- Machinery Breakdown Insurance : Covers sudden and unforeseen breakdowns of eligible installed machinery, subject to policy terms.
- Electronic Equipment Insurance: Coverage for eligible electronic equipment such as computers, servers, and specialised instruments.
- Boiler and Pressure Plant Insurance: Provides coverage for eligible boilers and pressure vessels against covered risks, including explosion-related damage.
What's the difference between CAR and EAR insurance?
Contractor’s All Risk (CAR) and Erection All Risk (EAR) are important types of Engineering Insurance, designed for different projects based on the nature of construction, installation, and associated risks.
CAR (Contractor’s All Risk)
For civil construction projects like:
- Houses, roads, bridges, buildings
- Construction plant and machinery
- Principal's surrounding property
- Third-party liability
EAR (Erection All Risk) Insurance
For machinery installation and erection projects such as:
- Factory equipment, power plants, and turbines
- Damage during transportation and storage
- Damage during erection and installation
- Third-party liability
What's the difference between CAR and EAR insurance?
It depends on the project contract and insurance arrangement. Typically:
- Contractor Arranged — The contractor may arrange the required CAR/EAR policy and include the cost in the project budget.
- Client Arranged — The project owner may arrange the insurance directly.
- Shared Arrangement — Depending on the contract, different policies or costs may be handled by the contractor and client.
What If My Equipment Gets Stolen from the Construction Site?
Theft may be covered under eligible CAR/EAR policies, subject to the policy conditions and security requirements.
- Forced Entry — Evidence of forced entry may be required.
- Site Security — Required security measures must be maintained.
- Police Complaint — Report the theft to the police promptly.
- Notify the Insurer — Inform the insurer promptly.
What Does Engineering Insurance Cover?
Engineering Insurance helps protect construction projects, machinery, equipment, and other engineering assets against a range of covered risks. The exact protection depends on the policy and type of engineering insurance selected.
- Accidental Damage: Coverage for sudden and accidental damage.
- Fire & Explosion: Protection against covered fire and explosion damage.
- Natural Disasters: Coverage for floods, storms, earthquakes and other covered events.
- Theft & Burglary: Protection against eligible theft and burglary losses.
- Machinery & Equipment Damage: Coverage for covered machinery, plant, and equipment.
- Third-Party Liability: Protection against eligible third-party injury or property damage.
Coverage Made Right
Guidance Made Simple
Protect your construction projects, machinery, equipment, and engineering assets with suitable coverage. AIMS Insurance Broking helps businesses in Thrissur, Kerala, and across South India find Engineering Insurance solutions suited to their project and risk requirements.