What is the Engineering Completed Risks Cover?
This insurance product offers cover for completed civil engineering structures exposed to negligible fire hazards, perils emanating from local geological conditions and risks arising out of the technical design of the structure or in connection with the operation and use of the structure.
- Fire
- Lightning
- Explosion/implosions
The cover caters for repair or reinstatement expenses of the damaged structure caused by:
Step 1: Submit the duly filled in application form along with property details and required documents
Step 2: The insurance company will check the property and determine whether the applicant is eligible for the policy
Step 3: If the property is eligible, the premium is calculated and agreed between both parties
Below is a step by step process:
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- Water or airborne vehicles
- Riots/strikes/terrorism and malicious activities
- Natural calamities like storms, floods, wave action of water
The cover also safeguards against damage from: