Engineering Insurance
Engineering Insurance
Construction Site Risk Changes with Project Schedule
The risk profile during the excavation phase is not the same as the risk profile during the finishing works phase; Collateral should also follow this change.
It constructs the guarantee according to the contract structure, work schedule and employer demands; We plan to exclude temporary acceptance, maintenance period and post-delivery periods.
- CAR / EAR project guarantees
- Machinery breakage and electronic device
Failure to include the time extension in the policy with an addendum is the most common reason for being left without coverage.
Scope
Coverage Scope
Construction all-risk (CAR)
Unexpected and sudden damages in construction works; Extensive coverage including natural disaster and theft.
Installation all-risk (EAR)
Coverage covering the trial operation period for machinery and facility installation works.
machine breakage
Sudden and unexpected physical damage to production machinery; spare parts and assembly costs.
electronic device
Damage coverage for automation systems, control panels and computing equipment.
Construction machinery (CPM)
Guarantee for construction machinery and equipment parks, including movement within and between construction sites.
Loss of profit due to delay (DSU)
Loss of income resulting from project delay due to a covered loss.
Key Risks
What We Watch in This Area
Neighboring Building Damages
Third party requests are the most common item in excavation and foundation works.
Outdoor Material
Materials and equipment sitting out in the open are vulnerable to both weather conditions and theft.
Time Extension
If the policy period is not extended, the project runs the risk of continuing without coverage.
How is it determined?
Data Determining Engineering Collateral
- Project type, contract price and work schedule
- Equipment age, brand-model information and replacement value
- Existence of maintenance contract and maintenance frequency
- Usage intensity; number of shifts and working hours
- Site conditions: ground structure, flood risk, neighboring structures
- Temporary acceptance, maintenance period and trial operation periods
FAQ
Frequently Asked Questions
It varies depending on the contract. The important thing is that the insured title in the policy accurately reflects the party who will claim compensation at the time of damage; We examine the contract from this perspective.
In assembly all-risk policies, the trial operation period is defined separately. Its duration and scope is a title that must be determined specifically for the project.
It covers sudden and unexpected physical damage; Gradual deterioration due to wear, tear and lack of maintenance is not covered. The distinction is made by looking at whether the damage occurred suddenly or over time.
IT hardware, automation and control panels, medical devices and measurement and security systems. Software and data loss is only covered with additional coverage.
Do You Have a Need in This Area?
Let's assess your risk together and build the coverage structure around your needs.