Engineering insurance is made up of several individual areas, which include:
Contractors’ all risks (CAR) and erection all risks (EAR) policies are needed for many one-off projects; alternatively some contractors take out annual, blanket CAR covers. Although more often packaged as part of an annual CAR policy, stand-alone contractors’ plant cover may sometimes be required.
There are three main types of machinery policy, covering movement (and installation) risks, breakdown and business interruption – consequential losses following breakdown. Specialist machinery policies are also available to cover the deterioration of stock following breakdown of refrigeration plant.
Under what are commonly known as “computer” policies, a wide range of electronic equipment can be insured against loss or damage, consequential increased costs of working and cyber risks.
Our range of engineering products encompasses:
- Contractors’ and Erection All Risks
- Computer Cyber
- Contractor’s Plant
- Deterioration of Stock
- Machinery Damage
- Machinery Movement
Terrorism cover is available for CAR, EAR and computer policies as a separate policy to engineering insurance cover.
For more information, contact your local NMU Development Underwriter.