Fire Policy does not pay for repair and /or replacement of machineries arising out of sudden accidental electrical and mechanical breakdowns. In order to have protection against such losses, Machinery Breakdown Insurance is required.
ENGINEERING FAQs
1. Why should I take Machinery Breakdown Insurance policy in spite of having a Fire Policy for the machinery?
5. Does the Electronics Equipment Insurance Policy covers portable and mobile items?
No, policy doesn't cover the same.
9. What type of projects can be covered under this Contractor's All Risk Policy?
Predominantly Civil Engineering Works are insured under this policy. Examples are buildings, bridges, flyovers, etc and such civil engineering projects.
10. Can I pay the premium in installments under Contractor's All Risk Policy?
In case the policy period exceeds 12 months, the premium can be paid in installments
11. Is the Contractor's All Risk Policy meant only for the Contractors executing Civil Engineering Contracts?
The policy can be availed by the Principal Owners of the contract works or Contractors as per the terms of the contract.
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