Erection All Risks
Protection during the installation and commissioning of machinery and equipment.
Erection All Risks insurance can cover machinery, plant and equipment during erection, testing and commissioning.
Overview
Cover for the installation phase, not just the finished asset
Machinery and equipment carry distinct risk during installation, testing and commissioning — a phase that standard property insurance often doesn't adequately address.
Erection All Risks is designed specifically for this period, from delivery to site through to successful commissioning.
Who Needs It
Is this relevant to you?
- Industrial installations.
- Power projects.
- Mechanical systems installers.
- Electrical systems installers.
- Plant expansion projects.
- Equipment commissioning contractors.
Coverage
What It Typically Covers
Read Carefully
Important Considerations
- Cover typically ends at successful commissioning — confirm when responsibility transfers to operational property cover.
- Testing and commissioning phases often carry elevated risk and specific policy conditions.
- Manufacturer's defects may be excluded, depending on the wording.
- Contract value, project scope and equipment specifications all affect underwriting.
Our Role
How Omega Helps
Bridge the Gap to Operational Cover
We help ensure there's no gap in protection between erection cover ending and your operational property policy beginning.
Understand Testing & Commissioning Risk
We clarify what's covered during the higher-risk testing phase specifically.
Match Cover to Project Scope
We structure cover around the actual equipment, contract value and installation timeline.
Support at Claims Time
If damage occurs during installation or testing, we help coordinate the claim with the insurer.
If You Need to Claim
Claims Support
FAQs
Frequently Asked Questions
Related Solutions
You may also need
Protect equipment through installation and commissioning.
Get a quote structured around your installation timeline.
Get a QuoteErection All Risk Insurance protects your project against financial setbacks
Erection All Risk insurance offers a protective cover against unexpected and sudden physical losses or damages to any project involving electrical or mechanical erection. This includes damages to contractors’ machinery, plant equipment, temporary facilities, and even existing properties of the principal. Notably, it ensures safety even during the crucial phases of testing or commissioning.
But that’s not all. If you’re a contractor, this policy can also act as a safeguard against potential liabilities you might face towards third parties.
When embarking on a construction project, safeguarding your assets, manpower, and the project itself becomes paramount. The unforeseen is always lurking around the corner: sudden damages to machinery, theft, vandalism, or even liabilities to third parties. This is where the Erection All Risk insurance comes into play, offering a shield against these unpredictable setbacks.
Protection
With the unpredictable nature of construction, risks like damages to materials, equipment, and buildings are always on the horizon. Erection All Risk insurance offers a comprehensive cover ensuring that these risks don’t derail your project.
Coverage against External Threats
Beyond just construction-related damages, this insurance protects against external threats like theft and vandalism.
Financial Security
Construction delays can have serious financial implications. Erection All Risk insurance ensures you’re not bearing the brunt of these losses, providing financial protection against potential losses from such delays.
Erection All Risks Insurance Coverage
When embarking on a construction project, ensuring the safety and security of materials and works is paramount. Erection All Risks (EAR) Insurance is tailored for this purpose. Let’s delve into what this comprehensive coverage entails:
Physical Loss or Damage
Protects against unexpected and sudden physical losses or damages to construction materials and projects.
Accidents during Construction
A mishap can occur at any time during construction. EAR Insurance offers coverage for unintentional damages that may happen during the building process.
Natural Calamities
Includes protection against events like fire, lightning, storms, floods, tempests, and water damage.
Unexpected Disasters
Covering scenarios such as collapse, collision, impact, burglary, theft, malicious damage, and even aircraft-related damages.
Breakdown or Explosion
Any part of the contract undergoing a sudden breakdown or explosion is covered.
Defective Components
Damages arising due to flaws in material casting, design, or workmanship are safeguarded.
Major Natural Disasters
The unforeseeable forces of nature, including riots, strikes, subsidence, landslides, cyclones, hurricanes, earthquakes, and volcanic eruptions, are also taken into account.
Our Partners
Trusted coverage through our exceptional network of insurance partners.
Frequently Asked Questions
Is Erection All Risk Insurance beneficial for contractors?
Yes, besides covering damages to machinery and equipment, this policy also acts as a safety net for contractors against potential third-party liabilities.
Why is Erection All Risk Insurance essential for construction projects?
Given the unforeseen challenges in construction like machinery damage, theft, or vandalism, Erection All Risk insurance offers a shield against these unpredictable setbacks, ensuring safety and security for both assets and the project itself.
How does Erection All Risk insurance provide financial security?
Construction delays and damages can lead to hefty financial losses. Erection All Risk insurance provides financial protection against these potential losses, ensuring that projects do not bear the full financial burden of unexpected events.
What if there's an accident during the construction process?
Erection All Risk insurance provides coverage for unintentional damages that may occur during the construction process, ensuring that accidents don’t lead to overwhelming costs.
