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Protect your Business Operations with Shriram Engineering Insurance
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- Overview
- Coverages
- Key Features
- Terminologies
- Claim Process
- Policy Download
- FAQ’s
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?
01
Material damage by accidental physical loss
02
Third-party losses
01
War & Nuclear Risks
02
Wilful Act/Negligence
03
Partial/Total cessation of work
04
Normal wear & tear
05
Loss or damage due to faulty design
06
Consequential losses
07
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?
01
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
02
Third-Party Liability
The policy covers third-party property against loss, damage, destruction and third-party personal injury
01
War & Nuclear Risks
02
Wilful Act/Negligence
03
Partial/Total cessation of work
04
Normal wear & tear
05
Loss or damage due to faulty design
06
Consequential losses
06
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?
01
Any unforeseen and sudden physical loss or damage to electronic equipment from any cause, other than the exclusions
02
External data media and the expenses for reconstruction and re-recording of information
03
Increased cost of working
01
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
02
Loss/damage for which the manufacture/supplier of the insured items is responsible either by law or under contract
03
Loss/damage to rented or hired equipment for which the owner is responsible either by law or under a lease/maintenance agreement
04
Consequential loss or liability of any kind
05
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?
01
Unforeseen and sudden physical damage or loss to machinery at work or rest or being dismantled for cleaning or overhauling
02
Damage in the course of the machine operations, being shifted within the premises or during subsequent re-erection
01
Fire and related perils
02
Theft
03
Overloading experiments
04
Wilful acts or gross negligence
05
Gradual flaws/defects not necessitating immediate stoppages
06
Normal wear and tear
07
Consequential losses
08
Pre-existing defects
08
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?
01
Loss/damage to the construction equipment
malicious damage, earthquakes, floods, storms, etc.
02
Work, rest or care-related damage
The policy covers damage resulting from work, rest or maintenance on insured property
01
Transit risks from site to site
02
Electrical & mechanical breakdown
03
Freezing of coolant or other fluids, defective lubrication, replaceable parts
04
Explosion due to steam pressure in I.C. engine
05
Wear and tear, rusting, testing for other purposes
06
War and nuclear perils
07
Pre-existing defects at inception
08
Wilful act/negligence of insured
09
Consequential loss/liability, inventory loss
10
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?
01
Damage to both fired and unfired against losses due to explosion or collapse
02
Damage to surrounding property arising due to explosion or collapse of the Pressure Plant during its normal course of work
03
Third-party legal liability arising due to explosion or collapse of the Pressure Plant during its normal course of work
01
Fire and allied perils
02
War and nuclear perils
03
Overload experiments/tests imposing abnormal conditions
04
Gradually developing defects not necessitating stoppage
05
Normal wear and tear
06
Failure of individual tubes not leading to explosion / collapse
7
Loss/damage during application of test by inspecting authority or otherwise Wilful act/negligence
08
Pre-existing defects and faults
09
Consequential losses
10
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
What our customers say ?
SANDEEP KUMAR
YAMINI SAINI
SUKUMAR
BHARAT SINGH
PARAG AVINASH SONI
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