Customized Cover For Specific Engineering Assets


Contractor’s Plant and Machinery (CPM) Insurance

Provides annual cover to a contractor who may be using his equipment across several project sites during the year. The cover is not limited to a specific project site, ,and is operative at all sites where the machinery is in use and even at the contractor’s premises. Provides coverage against accidental damage, theft, riot and strike, burglary, fire and allied perils.


Machinery Breakdown Insurance

Provides economic protection if immediate repair or replacement of parts is required for unforeseen and sudden physical damage of the machinery. The policy may not cover certain parts named that have a limited life.


Boiler and Pressure Plant Insurance

Covers collapse risks and sudden/accidental explosion to boiler/pressure plants. Cover may also extend to third party liability, and damage to owners surrounding property.


Electronic Equipment Insurance

Covers damage to electronic equipment (computers, medical, microprocessor, biomedical, and audio/visual equipment) and also covers the value of system software. The policy covers damage due to fire and special perils, electrical/mechanical breakdown, theft and burglary, among others.

FAQ

What are the general exclusions in Insurance of Engineering Assets ?

Damage due to war/warlike operations, willful negligence, nuclear radiation/contamination, normal wear and tear and faulty design. It may be noted that policy terms and conditions, premium can vary significantly across insurers for the same risk. Often, a combination of products is needed for effective risk mitigation of property and engineering assets. Blue Armour Insurance Brokers can advise you coverage terms as well as premium rates across the process.

What is an excess under various Asset Insurance policies ?
The excess amount gets deducted from the claim amount during final claim settlement. Policy terms and conditions can vary across insurers.

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Direct Broker (General), IRDA License No 728 (Valid upto 25th August, 2023), Bluearmour Insurance Brokers Private Limited, CIN: U66000HR2019PTC084231