Supporting Your Installation Work with Protection You Can Rely On
Sukoon Erection All Risk (E.A.R.) Insurance provides broad protection during the erection of machinery, plant, and steel structures, ensuring your projects stay on track without unexpected setbacks. The policy covers loss or damage to equipment, materials, and structures arising during the erection process. It also safeguards you against third-party claims for property damage or bodily injury related to the execution of the project, giving you peace of mind and allowing your team to focus on completing the work efficiently.
What’s Covered
Nearly any sudden and unforeseen loss or damage to the property insured on the erection site, during the period of insurance, will be indemnified. Here are some of the most important causes covered under this policy:
- Fire, lightning, explosion
- Flood, inundation
- Windstorm of any kind
- Earthquake
- Theft, burglary
- Faults in the erection
- Negligence, lack of skill, lack of experience, malicious acts
- Short-circuit, arcing, excess voltage
- Excess pressure or vacuum, tearing apart on account of centrifugal force
- Any loss or damage on-site, due to collapse, foreign objects, during transport of items to be erected, etc.
Extensions
You can extend your policy to include a maintenance period. This can be added on through any one of the following covers.
Maintenance Visit Cover
During the maintenance period, you will be covered for any loss or damage caused during operations, while complying with all obligations under the maintenance provisions of your contract.
Extended Maintenance Cover
In addition to the protections provided under the maintenance visits cover, this covers any loss or damage that occurred during the maintenance period, but was caused during the erection period on the construction site.
Maintenance Guarantee Cover
This covers the manufacturer of the machinery or plant to be insured if they are the ones commissioned to do the erection work. We will cover the manufacturer’s liability for loss or damage during the guarantee period, as stipulated in the supply contract, to a certain extent.
your questions answered
We are here to help. Find the most commonly asked Erection All Risk (EAR) Insurance questions.
No, sorry, these are non-cancellable policies.
No, any loss or damage to items that are immediately affected by the above are not covered. However, your insurance can be extended to cover any loss or damage to the correctly executed items resulting from an accident that happened because of faulty design, defective material or workmanship.
No, it's not. It totally depends on you. But we would say that it is advisable.
So, this is how it goes. You will need to estimate the maximum value of the stock that you may be holding at a particular point of time during the policy. This will be considered as the sum insured and the premium rate is charged based on this amount.
At the beginning of each month, you will need to declare the highest value of the stock that you were holding during the previous month. The same will be considered as the declaration for that month. At the end of the policy period, the premium is adjusted based on the average monthly declarations provided by the insured.
product resources
For more information, please refer to the product resources listed here.
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