Construction, erection and installation work involve several risks, whether generated by the nature of the work to be carried out, by the contractual liability or by unforeseen perils. SMBI Insurance provides the right insurance covers and has a variety of policies available to moderate the risks.
CAR insurance, also known for being the contract works insurance, provides comprehensive coverage against unforeseen accidental physical loss or damage during the construction process.
Cover can also include the principal’s existing property, contractors’ plant, equipment and machinery at the project site, cost for removing debris and loss or damage to third parties arising from the execution of the project.
EAR insurance provides comprehensive coverage against unforeseen accidental physical loss during machinery installation and refurbishment.
Cover can also include the total Contract Value as well as costs of all materials and all-temporary/ permanent works
The Machinery Breakdown policy provides coverage for plant, machinery and mechanical equipment at work, at rest or during maintenance operations. This insurance covers sudden and unforeseen physical damage that reduces the probability of the insured item and therefore necessitates its repair or replacement.
All types of machinery, apparatus, electrical equipment and technical plant can be covered under machinery insurance such as boilers, turbines, generators, gas turbines, transformers, high- and low-voltage switch gear, machine tools, weaving looms, paper machines, kneaders, pumps, compressors, heat exchanges, tanks, apparatus, piping, etc..
Electronic Equipment insurance policy provides coverage for electronic equipment against any accidental and unforeseen damage.
Material damage cover under Electronic Equipment insurance may be subscribed for all electronic systems, such as Electronic data processing systems, medical equipment for diagnostic and therapeutic purposes, telecommunications systems, and equipment in film, radio and television studios, measurement and test equipment, machines for producing printed matter, burglar alarm and fire alarm systems, electronic point-of-sale terminals and scales, cash dispensing machines, traffic control systems, attendance and access recording systems, etc…