Project Insurance

Armourr Insurance Broking Pvt. Ltd.

Project Insurance is essential for businesses involved in construction and engineering projects. It provides comprehensive protection against various risks such as physical damage, theft, natural disasters, third-party liabilities, human errors, project delays, erection, installation and maintenance risks, transit losses/damages, and unforeseen events that could disrupt construction and engineering projects. At Armourr Insurance Broking Pvt. Ltd, we offer a variety of project insurance policies customized to protect your investments and ensure the smooth completion of your projects. These policies issued to the insured before commencement of the construction / erection or during the initial stage of Civil Construction / Erection of Machinery.

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1.Construction All Risk Policy (CAR)

This policy issued to Principal or Contractor for any Civil Constructions work such as construction of buildings, dams, road, tunnels, airports, seaports etc. The Civil Construction must be 50% of total construction to avail this policy. The name itself says it is all risk policy, all risks are covered including third party liability unless otherwise specially excluded under the policy. Few add on covers are available with premium. Furthermore, the coverage can be extended to include the interest of suppliers, manufacturers, contractors and subcontractors.

2.Erection All Risk Insurance Policy (EAR)

This policy issued for Erection of all types of Machinery. The Erection-All Risk (EAR) Policy is specifically tailored for businesses engaged in erecting and installing machinery, plants, and steel structures. The total erection work must be 50% of total construction to avail this policy. Whether you are establishing a new factory or installing intricate machinery, an EAR policy guarantees that your project remains safeguarded from unforeseen challenges. The name itself says it is all risk policy, all types of risks are covered including third party liability unless otherwise specially excluded under the policy. Few add on covers are available with premium such as extended maintenance period etc. Furthermore, the coverage can be extended to include the interest of suppliers, manufacturers, contractors and subcontractors.

3.Marine-cum-Erection All Risk Insurance Policy (EAR)

This policy covers including the Marine transit risk from warehouse to warehouse basis along with EAR /CAR risk.

4.Advance Loss of Profit Insurance Policy (ALOP)

This policy covers the Loss of profit due to delay in completing the project insured under CAR / EAR policy due to accident to such property by insured peril covered under EAR / CAR policy. To avail claim under this policy, claim first admitted in the EAR/CAR policy.