Benefits of Engineering Insurance

Engineering Insurance is a specialized form of insurance designed to cover risks and provide financial protection against damages and loss to properties during construction and/or installation, as well as machinery and electronic equipment loss.?

Its coverage is wide; ranging from all kinds of properties such as structures, machinery, equipment, systems, third-party liability, and more. Here at Pacific Union, we would like to share with you the benefits of availing Engineering Insurance because it matters.?

Contractors All Risk (CAR)

Contractors All Risk or CAR is a form of insurance that provides protection against loss or damage to contract works, construction plant and equipment, and third-party claims. This type of insurance covers civil engineering works ranging from buildings, roads, and bridges.?

Erection All Risk (EAR)?

On the other hand, Erection All Risk or EAR is a type of insurance that covers electrical and mechanical works. This also covers the testing and commissioning of machinery and equipment installed.

Machinery Breakdown (MB)?

Machinery Breakdown Insurance is designed to protect big industrial enterprises and production plants when machinery failure may have serious financial and economic consequences. It is designed to protect machinery from sudden and unforeseen damage.?

Machinery covered include:?

• Boilers
• Generators
• Lifting Equipment
• Elevators

Electronic Equipment Insurance (EEI)?

Finally, Electronic Equipment Insurance, or EEI protects electronic data processing equipment from sudden and unforeseen damages.?

Insured items include:?

• Electronic Data Processing Equipment
• Electronic and Radiation Equipment for Medical Use (electrographs, x-rays, etc.)
• Communication Facilities (telephone exchanges, radio)
• Miscellaneous Equipment (Film and television equipment)?

For more details on Engineering Insurance, feel free to contact us today at our local landline or any of our social media platforms.?