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Royal Sundaram Business Insurance |
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Theft / Burglary Insurance
We offer Burglary Insurance as part of an overall package to cater to your insurance requirements. Burglary Insurance covers burglary or housebreaking accompaniedby either forcible or violent entry into/ exit from the premises and hold-up.
Burglary Insurance is for
• Machinery
• Stock in trade
• Furniture, fixtures & fittings
• Goods held in trust or on commission for which the insured is responsible.
Engineering Insurance
Erection Coverage: The Erection All Risks policy is a comprehensive insurance, which provides complete protection against all types of risks associated with erection, testing, commissioning of machinery, plant and equipment during constructional stage.
Erection All Risks Insurance embraces a wide variety of plant and machinery at all levels of complexity, ranging from the relatively straight forward positioning and connecting up of single manufactured items of equipment such as small pumps or electric motors to complete major industrial complex such as a large power station or manufacturing facility.
Duration:
The cover starts from the time of arrival of first consignment at site, normal storage and thereafter during erection, testing, commissioning until the plant is successfully commissioned and handed over.
Scope:
Insurance is on an <all-risks’ basis and in particular includes-
• Fire, lightning, explosion, aircraft damage
• Riot, strike, malicious acts
• Flood, inundation, storm, cyclone and allied perils
• Landslide, subsidence and rockslide
• Burglary and theft
• Faults in erection
• Human errors, negligence
• Short circuiting, arcing, excess voltage
• Electrical and mechanical breakdown
• Collapse, damage due to foreign objects, impact damages
• Any other sudden, unforeseen, accidental damages not explicitly excluded
Sum Insured:
The Sum Insured for the insurance should not be less than the Completely erected value of the property inclusive of freight, customs duty and erection cost. Basically, insurance should be for the contract price.
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