Erection All Risk Insurance is crucial for contractors, project owners, and manufacturers involved in the installation and erection of machinery and industrial structures. It offers comprehensive coverage against accidental damage, fire, explosion, natural perils, theft, and human errors during the erection phase. By providing financial security and protecting against third-party liabilities, this insurance ensures project continuity and stability. With tailored coverage options and extensive benefits, Erection All Risk Insurance is an essential component of risk management for large-scale construction and erection projects

Information Required

To obtain Erection All Risk Insurance, insurers typically require the following information:

• Project Details: Comprehensive information about the project, including the scope of work, location, and duration.
• Value of Equipment: Estimated value of the machinery, equipment, and structures to be erected.
• Project Timeline: Detailed schedule of the erection and installation phases.
• Safety Measures: Information about safety protocols and risk management practices in place.
• Experience: The contractor’s or project’s owner experience and track record in similar projects.
• Contract Details: Copies of contracts, agreements, and specifications related to the project.

Coverage Details

Erection All Risk Insurance covers physical loss or damage to the project during the erection and installation phase. The policy includes coverage for machinery, equipment, and structures from the time they are unloaded at the site until the completion of testing and commissioning. It also provides coverage for third-party liability, protecting against claims for bodily injury or property damage caused by the erection activities.

Insured Perils

The policy typically covers the following perils that can cause loss or damage during the erection phase:

• Accidental Damage: Unforeseen and sudden physical damage to the project components.
• Fire: Damage caused by fire incidents at the erection site.
• Explosion: Explosions resulting in damage to machinery and equipment.
• Natural Perils: Damage caused by natural disasters such as earthquakes, floods, storms, and landslides.
• Theft and Vandalism: Loss or damage due to theft or malicious acts.
• Human Errors: Mistakes or negligence by workers during the erection process.
• Testing and Commissioning: Damage occurring during the testing and commissioning of machinery and equipment.

Exclusions

While Erection All Risk Insurance provides extensive coverage, certain exclusions apply. The policy generally does not cover:

• War and Terrorism: Damage due to war, terrorism, and related activities.
• Wear and Tear: Gradual deterioration, wear and tear, and mechanical breakdown.
• Defective Design: Faulty design, materials, or workmanship.
• Contractual Penalties: Penalties for non-compliance with contractual obligations.
• Nuclear Risks: Damage resulting from nuclear reactions or contamination.
• Pre-existing Conditions: Defects or damage existing before the inception of the policy.

Benefits

Erection All Risk Insurance offers several benefits, including:

• Comprehensive Coverage: Provides extensive protection against a wide range of risks associated with erection and installation projects.
• Financial Security: Ensures financial stability by covering unexpected losses and damages, reducing the financial burden on the contractor or project owner.
• Third-Party Liability: Protects against claims from third parties for bodily injury or property damage arising from the erection activities.
• Project Continuity: Minimizes project delays and disruptions by ensuring quick recovery from insured events.
• Peace of Mind: Enhances confidence among stakeholders, knowing that potential risks are effectively managed and insured.

Requirements for Coverage

To obtain coverage, please provide the following:

• Premium Payment
• Fully Completed Proposal Form
• Copy of Identification (ID)
• Copy of Taxpayer Identification Number (TIN) Certificate/Valid NIDA ID

In the Event of a Claim

For assistance with your claim, please contact us at:

• Phone: +255 718 422 229
• Email: claims@bluetickinsurance.com

Minimum Claim Requirements

To process your claim, please provide the following documents:

• TIN Number/Certificate/Valid NIDA ID
• Completed Claim Form
• Any Additional Documents Requested

Ensure that you have all required documents to facilitate a prompt and efficient claims process.