Engineering Insurance

This is an assorted cover against all risks for electronic equipment. In addition to break down cover, it provides protection against fire and allied perils, burglary, terrorism etc.

This policy shall apply to the Insured items only after successful completion of their performance/acceptance test whether they are at work or at rest or being dismantled for the purpose of cleaning or overhauling or in the course of aforesaid operations themselves or when being shifted within the premises or during subsequent re-erection.

Scope of cover

Basically on average some of the cover forwarded includes:

• Material damage: “All risks” against unforeseen physical loss or damage for all types of electrical/electronic equipment.
• Damage to external data media: Information stored at computer centre or elsewhere   
• Replacement of any property lost or damaged beyond repair;
• Repair of any damaged insured property to a condition as new.
• Increased cost of working : Expenses for use of alternative systems:
• rent for use of alternative plant;
• expenditure for job operating;
• transportation of data media;
• cost of hiring disaster recovery facilities;

Exclusion

Some of the basic exclusions include:

• Derangement of insured property not accompanied by damage
• Consumables, aesthetic defect, wear and tear;
• Loss destruction or damage directly occasioned by pressure wave caused by aircraft and other aerial devices traveling at sonic or supersonic speeds.