Hotline | +94 11 5 200200

Types of Engineering Insurances Offered by Continental Insurance

Our comprehensive engineering insurance policies cover a variety of engineering-related risks associated with the erection, resting and operating of any machinery, equipment or plant. Continental Insurance offers different types of policies for businesses and industries. The risks covered vary from single machinery breakdown at a plant to perils occurring in projects such as highways, power plants and industrial complexes.

If your business is associated with construction and engineering, you can get a comprehensive engineering business insurance policy from us. Our engineering insurance focuses on different aspects of risks in engineering projects. Based on your risk assessment of the project or industrial operations, you can choose the relevant policy types and tailor the most effective policy for your business.

Types of engineering insurance we offer

1. Electronic equipment insurance

Electronic equipment used in business operations can be damaged for various reasons. On such occasions, an electronic equipment insurance policy supports you to run your operations without any setbacks or straining your working capital.

Electronic data processing equipment such as computers and laptops, medical equipment, communication equipment and other equipment used in operations have different risk levels based on the probability of breakdowns and values. Do a risk assessment and discuss with us to determine the best policy terms for you. Your equipment will be covered from many risks such as fire and lightning, assembling faults, burglary and so much more.

2. Contractors / Erection – All risk

If you are in the construction business, this policy is specially tailored for you. We cover the contractors and builders from the risks associated with the construction of buildings, roads etc. This policy provides protection for building structures, tools and construction materials during the work and to a certain period of maintenance. Further Erection All risk insurance policy covers the risks associated with an erection of a Machinery Plant.

3. Boiler insurance

Boilers are expensive. In case of a breakdown, the manufacturing process may halt entirely. Boiler insurance provides protection for the gas or oil-powered commercial boiler in your industrial site. We cover the costs for repairing, replacing faulty parts or replacing the whole boiler system. Also, this cover includes damage to surrounding property of the insured and liability of the insured for damage to property of third party and for fatal and non-fatal injuries to any third party person.

4. Comprehensive machinery for completed risk – All risk

This policy covers the damages and loss of insured machinery of your property from any cause except for some exclusions. The insured property can be construction equipment such as tractors and manufacturing equipment used in the production process. This insurance plan is ideal for large industries.

5. Machinery breakdown insurance

As a policy that only focuses on machinery breakdowns, this policy doesn’t compensate for the complete range of causes covered by a Machinery - All Risk insurance. The cover is valid for an unforeseen breakdown of machinery as a result of a failure of its working parts. We’ll evaluate machinery conditions, and maintenance history and compensate for the repairing or replacement of the equipment.

6. Plant and machinery insurance

The plant and machinery are the centrepieces of any manufacturing process. This policy is concentrated on risks related to machinery and the risks impacting the plant and the operations. Any such risk can interrupt the whole manufacturing process and it may result in significant financial loss.

7. Deterioration of stock insurance following machinery breakdown

Your business may involve cold storage facilities to stock goods such as food, beverages and pharmaceuticals. Due to a temperature change caused by malfunctioning machinery, these items can deteriorate. This insurance plan covers the damages in such scenarios as general insurance policies usually do not include the deterioration of stocks.

Our scope of engineering insurance is broad, catering to every aspect of your business. The engineering insurance policies are for any manufacturer, construction company or contractor. With a wide range of policy options, you are free to pick the right policy for your business. Talk to us to learn more.