EAR – Erection All Risk Policy

EAR – Erection All Risk Policy

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100% Claim Settlement

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Documentation

Reasonable

Premium

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Total Cover

100% Claim Settlement

No

Documentation

Reasonable

Premium

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Client Testimonials​

Prakhar Srivastava
2 months ago
They guided me through the intricacies of various insurance options, ensuring I fully understood each policy's coverage and benefits. Their transparency and willingness to address all my concerns instilled a sense of trust and confidence in their services.
punitchibber chibber
2 weeks ago
Good service whenever we call to them they give positive response i have a claim they support and my claim got settled
Agam Kansal
2 weeks ago
Brilliant place for all types of insurance. Always connected with every claim settlement.. Hassle free.. Kudos to beemawala..
rahul goyal
6 months ago
Beemawala and team is a best Company for take any type of insurance. They support and take care of your claim . Thanks a lot for your support of my claims many times .
Devyani Kharbanda
2 years ago
Shantanu is professional and very prompt in responding to my questions. I’m a repeated client and he’s been supportive throughout. I highly recommend his services. I wish him and his team good luck for future.

EAR – Erection All Risk Policy: Buy/Renew EAR – Erection All Risk Policy Online Instantly

What is EAR – Erection All Risk Policy

The Erection All Risk (EAR) Policy is an insurance policy that provides comprehensive coverage for projects involving the installation, assembly, and commissioning of machinery, plants, or industrial equipment. It protects against various risks during the erection process, ensuring financial security for the parties involved.


⛦ Example Scenario: Construction damage due to Heavy rain –
In the case of a small business having the Erection All Risk (EAR) insurance and an accident occurring during construction due to heavy rain causing damage, the policy would come into effect to provide coverage. The insurance would help the small business by compensating for the repair and replacement costs of the damaged machinery, plants, or equipment used in the construction. This financial support ensures that small business can resume construction without facing significant financial burdens, minimizing the impact of the accident on their operations and overall profitability.

Coverages: of EAR – Erection All Risk Policy

Material Damage Coverage

Material Damage Coverage

Provides protection for the insured against accidental physical loss or damage to machinery, plants, or equipment during the erection process.

Third-Party Liability Coverage

Third-Party Liability Coverage

Covers legal liabilities for third-party property damage or bodily injury arising from the erection activities.

Fire and Explosion Coverage

Fire and Explosion Coverage

Protects against damages caused by fire or explosion during the installation and commissioning of machinery or equipment.

Natural Perils Coverage

Natural Perils Coverage

Provides coverage for damages resulting from natural disasters like floods, storms, earthquakes, or lightning.

Accidental Damage Coverage

Faults in Design, Assembly, or Erection

Covers damages caused by design defects, faulty assembly, or errors during the erection process.

Testing and Commissioning Coverage

Includes protection during the testing and commissioning phase of machinery or equipment.

Transportation Coverage

Transportation Coverage

Offers protection against damages occurring during the transportation of machinery or equipment to the construction site.

Maintenance Period Coverage

Maintenance Period Coverage

Extends protection beyond project completion during the maintenance period against defects or issues that may arise.

Property Damage Coverage

Accidental Damage Coverage

Covers damages due to accidents, human errors, or unforeseen events during erection.

Additional Add-ons OF EAR – Erection All Risk Policy

Terrorism Coverage

Terrorism Coverage

Protects against damages or losses caused by acts of terrorism during the construction project.

Professional Indemnity Coverage

Professional Indemnity Coverage

Offers protection against claims arising from errors or omissions in the contractor’s professional services.

Architects and Engineers Coverage

Architects and Engineers Coverage

Covers damages caused by design defects or errors made by architects or engineers involved in the project.

Maintenance Period Coverage

Extends coverage during the maintenance period after project completion, protecting against potential defects or issues that may arise.

Inland Transit Coverage

Inland Transit Coverage

Provides coverage for the transportation of materials and equipment to the construction site from external locations.

Owner Controlled Insurance Program (OCIP) Coverage

Owner Controlled Insurance Program (OCIP) Coverage

Consolidates insurance coverage for multiple projects under a single policy, streamlining the insurance process.

Environmental Liability Coverage

Environmental Liability Coverage

Protects against liabilities arising from environmental damages or pollution caused during the construction process.

Loss of Profit (Consequential Loss) Coverage

Loss of Profit (Consequential Loss) Coverage

Offers financial compensation for loss of profit resulting from project delays caused by covered perils.

Expediting Expenses Coverage

Expediting Expenses Coverage

Covers additional expenses incurred to expedite the repair or replacement of damaged materials or equipment.

Sue and Labor Clause

Sue and Labor Clause

Covers expenses incurred by the insured contractor to prevent or minimize potential losses during a covered event.

Mechanical and Electrical Breakdown

Machine Breakdown Cover

Provides coverage for a sudden and unforeseen breakdown of machinery used during the construction, ensuring timely repair or replacement without significant financial burden on the contractor.

Design Defect Liability Cover

Design Defect Liability Cover

Protects against claims and losses arising from design defects in the construction project, providing financial security to the contractor against potential legal liabilities.

Factors Determining the Premium of EAR - Erection All Risk Policy

Project Type and Scope

Project Type and Scope

The nature and complexity of the construction project influence the premium calculation.

Construction Materials

Construction Materials

The type, quality, and value of materials used in the project affect the risk profile and, consequently, the premium.

Construction Location

Construction Location

The geographical location of the construction site is considered, as it may be prone to specific risks.

Project Duration

Project Duration

The estimated duration of the construction project is taken into account while determining the premium.

Past Experience and Claims History

Past Experience and Claims History

The contractor’s previous experience and claims history can impact the premium amount.

Coverage Limits

Coverage Limits

Higher coverage limits result in increased premiums to provide adequate protection.

Contractor's Expertise

Contractor's Expertise

The contractor’s expertise and track record in handling similar projects are evaluated.

Risk Assessment

Risk Assessment

The insurer assesses potential risks associated with the project and adjusts the premium accordingly.

Add-On Coverages

Add-On Coverages

Opting for additional coverages, such as terrorism or professional indemnity, may affect the premium.

Deductibles and Excesses

Deductibles and Excesses

The chosen deductible or excess amount can influence the premium value.

Policy Inclusions and Exclusions

Policy Inclusions and Exclusions

The scope of coverage, including any specific inclusions or exclusions, plays a role in determining the premium.

Market Conditions

Market Conditions

The prevailing market conditions and competition among insurers can also impact the premium rates.

Major Differences Between CAR (Contractor All Risk)
and EAR (Erection All Risk) Policy

Aspect Erection All Risk Policy Contractor All Risk Policy
Scope of Coverage
Specifically designed for the erection, installation, and commissioning of machinery or plants. Provides coverage for the risks involved in the installation process.
Covers construction projects, including material damage and third-party liabilities at the construction site.
Nature of Projects Covered
Tailored for projects involving the assembly and installation of machinery, plants, or industrial equipment.
Applicable to a wide range of civil construction projects, such as buildings, roads, bridges, etc.
Coverage during Construction
Provides coverage during the erection phase, safeguarding against risks during the installation and commissioning of machinery.
Protects against damages during construction, including accidental damage, theft, fire, and natural disasters.
Third-Party Liability
Offers coverage for third-party liabilities related to the erection process, such as damages to surrounding properties during installation.
Covers third-party property damage and bodily injury claims arising from construction activities.
Machinery and Equipment
Focuses on machinery and equipment being installed or erected, providing coverage for any damage or breakdown during the process.
Typically includes coverage for construction machinery, tools, and equipment used in the project.
Project Duration
Provides coverage from the start of erection until the machinery or plant is successfully commissioned.
Offers coverage throughout the construction period until project completion.
Use of Policy
Designed for engineering contractors or companies specializing in machinery installation and commissioning.
Suitable for civil contractors and builders involved in construction projects.
Policy Premium
The premium is calculated based on the complexity of the erection process, the type of machinery, and the duration of the project.
The premium is based on the project's size, scope, and risk factors associated with the construction.

How to Settle EAR – Erection All Risk Policy Claims?

Notification

Notification

Promptly inform the insurance company about the loss or damage during transit.

Submit Claim Documents

Cooperate with Surveyor

The insurer may appoint a surveyor to assess the extent of the loss. The insured should cooperate fully with the surveyor and provide all required information.

Submit Claim Documents

The insured must submit all necessary claim documents, including the claim form, policy details, and any relevant evidence or proof of loss.

Claim Assessment

Claim Assessment

The insurance company evaluates the claim based on the policy terms and conditions, coverage limits, and exclusions.

Claim Settlement

Claim Settlement Offer

After the assessment, the insurer will make a claim settlement offer based on the approved amount of the loss or damage.

Acceptance of Settlement

Acceptance of Settlement

If the insured agrees with the settlement offer, they can provide their acceptance to the insurer.

Payment of Claim

Payment of Claim

Upon acceptance, the insurer will proceed with the payment of the approved claim amount to the insured.

Dispute Resolution

Dispute Resolution

In case of any disagreement on the claim settlement, the insured can engage in dispute resolution processes, such as negotiation or mediation.

Legal Action

Legal Action

 If necessary, the insured can seek legal recourse through the courts if there are disputes regarding the claim settlement.

Close the Claim

Close the Claim

Once the claim is settled, and the insured receives the claim amount, the claim is considered closed.

Exclusions of EAR – Erection All Risk Policy

Pre-Existing Damages

Pre-existing Conditions

Damages or losses arising from defects or conditions existing before the policy inception are not covered.

Willful Negligence

Willful Negligence

Any damages caused by willful negligence, intentional acts, or deliberate disregard of safety protocols are excluded.

War and Terrorism

War and Terrorism

Damages resulting from war, acts of war, terrorism, or related activities are not covered.

Nuclear or Radioactive Hazards

Nuclear or Radioactive Hazards

Damages caused by nuclear radiation or radioactive materials are excluded from the policy.

Normal Wear and Tear

Wear and Tear

Normal wear and tear, gradual deterioration, or depreciation of machinery or equipment are not covered.

Consequential Loss

Consequential Loss

Loss of profit, business interruption, or any indirect or consequential losses are not included.

Design Defects

Design Defects

Damages caused by inherent design defects in the machinery or equipment are excluded.

Contractual Liability

Contractual Liability

Any liability assumed under a contract or agreement is not covered by the policy.

Government Actions

Government Actions

Damages due to government actions, such as confiscation, expropriation, or requisition, are excluded.

Loss of Data

Loss of Data

Damages resulting from loss of data, records, or software are not covered.

Pollution and Contamination

Pollution and Contamination

Damages arising from pollution, contamination, or environmental hazards are excluded.

Delay Penalties

Delay Penalties

Penalties or liquidated damages imposed due to project delays are not covered.

Documents Required for Claim Settlement under CAR (Contractor All Risk) Policy

Aadhaar Card

Aadhaar Card

Copy of the insured party’s Aadhaar card for identification purposes.

GST Registration Certificate

GST Registration Certificate

If applicable, provide a copy of the Goods and Services Tax (GST) registration certificate.

PAN Card

PAN Card

Copy of the insured party’s Permanent Account Number (PAN) card for taxation purposes.

Claim Form

Claim Form

A duly filled and signed claim form providing essential details about the incident and the claimant.

Insurance Policy Copy

Policy Document

A copy of the valid and active Erection All Risk (EAR) Policy should be submitted.

Proof of Loss or Damage

Proof of Loss or Damage

Any evidence or documentation supporting the occurrence and extent of the loss or damage, such as photographs, videos, or eyewitness accounts.

Project Details

Project Details

Details of the construction project, including its scope, location, and duration.

Contract Document

Contract Document

Copies of relevant construction contracts or agreements related to the insured project.

Incident Report

Incident Report

A detailed report describing the circumstances of the incident that caused the loss or damage.

Police Report

Police Report

In case of theft or burglary, a copy of the FIR (First Information Report) is filed with the police.

Estimate of Repairs

Repair or Replacement Estimates

Quotations or estimates from repairers or suppliers for the cost of repairing or replacing the damaged property.

Surveyor's Report

Surveyor's Report

If a surveyor is appointed by the insurance company, their assessment report on the extent of the loss or damage.

Invoices and Receipts

Invoices and Receipts

Original bills, invoices, or receipts for materials, equipment, or machinery purchased for the project.

Maintenance Records

Maintenance Records

Records of maintenance activities performed on machinery or equipment involved in the incident.

Any other Supporting Documents

Any other Supporting Documents

Any other relevant documents requested by the insurance company to support the claim.

Contact Information for Claim Settlement: related to EAR – Erection All Risk Policy

If Policy Obtained through Agent/Broker

Claims are the reason we get a car insurance in the first place! Therefore, ensure the claim process of your desired car insurance is smooth and doesn’t take too long. When you’re in trouble, the last thing you want is, to spend all your time and energy in just filing a claim!

If Policy Obtained Directly from Insurance Company

Claim Settlements are basically getting your compensations done right. Claims being such an important part of a car insurance, check for your desired insurer’s claim settlement ratio so that you’re assured that no matter what, your claims will be settled!

Claim Contact Information for Policy from Beemawala.com

If you have taken the policy from Beemawala.com, please use the following contact details to register your claim.

Frequently Asked Questions: EAR – Erection All Risk Policy

The EAR policy is an insurance policy that provides comprehensive coverage for projects involving the installation, assembly, and commissioning of machinery, plants, or industrial equipment. It protects against various risks during the erection process, ensuring financial security for the parties involved.
The EAR policy covers damages or losses to machinery, plants, or equipment during the erection process, third-party property damage, fire and explosion, natural perils, accidental damage, and other specific risks related to the construction project.
Contractors, construction companies, and businesses involved in erection, assembly, and commissioning of machinery or plants should consider buying an EAR policy to protect against potential financial losses.
The premium is determined based on factors such as project type and scope, construction materials, location, project duration, past experience, coverage limits, deductibles, policy inclusions, and market conditions.
No, damages caused by inherent design defects in the machinery or equipment are usually excluded from the policy coverage.
Some EAR policies may offer terrorism coverage as an additional add-on, providing protection against damages caused by acts of terrorism during the construction project.
The documents required for claim settlement typically include the claim form, policy documents, proof of loss or damage, project details, incident report, repair or replacement estimates, and any other supporting documentation.
In the event of a claim, the insured must notify the insurer, submit the necessary claim documents, cooperate with the surveyor (if appointed), and await the insurer’s assessment and claim settlement offer.
No, consequential losses such as loss of profit, business interruption, or indirect damages are usually not covered under the EAR policy.
Yes, the EAR policy can be customized with additional add-ons, such as professional indemnity, owner-controlled insurance program (OCIP) coverage, environmental liability, and more, to suit the insured’s specific project requirements and risk exposures.
Erection All Risk Insurance is a comprehensive insurance policy that provides coverage for projects involving the installation, assembly, and commissioning of machinery, plants, or industrial equipment. It offers protection against various risks during the erection process, ensuring financial security for the parties involved.
The Erection All Risk Policy covers damages or losses to machinery, plants, or equipment during the erection process, third-party property damage, fire and explosion, natural perils, accidental damage, and other specific risks related to the construction project.
The wording of the Erection All Risk Policy includes the terms, conditions, and scope of coverage for the insurance policy, outlining what is covered and what is excluded.
The Erection All Risk Insurance Policy offers comprehensive coverage for a wide range of risks involved in the erection, installation, and commissioning of machinery or plants, providing financial protection to the insured.
The tariff for Erection All Risk Insurance refers to the standardized premium rates set by insurance regulatory authorities or insurance companies for the coverage provided under the policy.
Damages caused by inherent design defects in the machinery or equipment are generally excluded from the Erection All Risk Policy coverage.
Yes, Erection All Risk Insurance is available in India and is offered by various insurance companies to cater to the needs of contractors and businesses involved in construction projects.
Yes, the Erection All Risk Policy can be customized with additional add-ons, such as professional indemnity, owner-controlled insurance program (OCIP) coverage, and more, to suit the insured’s specific project requirements and risk exposures.
The Erection All Risk Insurance Policy offers comprehensive coverage for damages or losses arising from various perils during the erection process, providing financial security to the insured.
Some Erection All Risk Insurance policies may offer terrorism coverage as an additional add-on, protecting against damages caused by acts of terrorism during the construction project.
Inland Transit Coverage provides protection for the transportation of materials and equipment to the construction site from external locations, safeguarding against damages during transit.
Yes, the EAR policy can include OCIP coverage, which consolidates insurance for multiple projects under a single policy, simplifying the insurance process for the project owner.
Yes, the EAR policy may include Environmental Liability Coverage, protecting against liabilities arising from environmental damages or pollution caused during the construction process.
No, the EAR policy typically does not cover consequential losses such as loss of profit resulting from project delays; however, such coverage can be obtained separately.
Expediting Expenses Coverage covers additional expenses incurred to expedite the repair or replacement of damaged materials or equipment, ensuring timely completion of the project.
Yes, the EAR policy may have a Sue and Labor Clause, covering expenses incurred by the insured contractor to prevent or minimize potential losses during a covered event.
Yes, the EAR policy may offer Machine Breakdown Cover, which protects against sudden and unforeseen breakdown of machinery used during the construction.
Design Defect Liability Cover protects the insured against claims and losses arising from design defects in the construction project, providing financial security against potential legal liabilities.
Yes, the EAR policy may extend coverage during the Maintenance Period, safeguarding against potential defects or issues that may arise after project completion.
Yes, the EAR policy can be customized with various Add-ons, allowing the insured to enhance coverage based on the specific needs and risks of the construction project.

Claims are the reason we get a car insurance in the first place! Therefore, ensure the claim process of your desired car insurance is smooth and doesn’t take too long. When you’re in trouble, the last thing you want is, to spend all your time and energy in just filing a claim!

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