Insurance Guide
All Risk Insurance
Broad protection against sudden and accidental physical loss or damage to insured property, except exclusions specifically mentioned in the policy.
Why it is Important
- Comprehensive protection
- Reduced financial uncertainty
- Project risk management
- Asset protection
- Better operational continuity
Types of All Risk Insurance
Contractor's All Risk (CAR)
Coverage for construction projects.
Erection All Risk (EAR)
Coverage during installation & erection activities.
Electronic Equipment
Coverage for electronic devices & systems.
Machinery Breakdown
Protection against machinery failure.
Portable Equipment
Coverage for movable equipment.
What is Covered?
- Accidental physical loss
- Fire & explosion
- Theft & burglary
- Natural calamities
- Transit damage
- Impact damage
- Human error & Short circuit
- Machinery damage
- Construction risks
What is NOT Covered?
- Intentional damage
- War & nuclear risks
- Wear & tear
- Gradual deterioration
- Defective workmanship
- Mechanical/electrical breakdown (unless covered)
- Existing damages before policy start
Important Terms
Excess
Portion of loss borne by insured.
Indemnity
Financial compensation principle.
Material Damage
Physical damage to insured property.
Third Party Liability
Coverage against legal liabilities.
Claim Process
Immediate claim intimation
Damage assessment
Surveyor visit
Documentation submission
Claim settlement