Erection All Risk Insurance (EAR)

Insurance provides coverage against loss and damage from “all risks”, to electronic equipment such as computers, x-ray machines, communication facilities, studio equipment and other data processing machines. The policy also covers computer components (hardware), data media center (software, data media and the cost of restoration of information) and increased cost of working (additional expenditures in case of a loss or damage).

Electronic equipment fixed in office and in various industries is exposed to risks of unforeseen and sudden failure resulting in loss or damage. Such losses may be repairable and sometimes need replacements.

The insurance coverage extends to the insured item at work or at ideal, or it is on dismantled position for the purpose of cleaning, overhauling or being transported within the premises, or in the process of the aforesaid operations, or during its erection and or commissioning.

The item proposed for insurance must have its sum insured as the replacement cost, including freight, duty, cost of erection and other expenses. If the sum insured is found to be inadequate, insurance company will indemnify in such proportion as the sum actually insured bears to the sum actually should have been insured.

Insurance of premium is subject to values, type, make, model and date of manufacture, nature and its use in industry, loss experience declaration factor will be considered.