Erection All Risks Insurance
The coverage of this insurance, which covers a wide range of risks encountered during the assembly of the machines, starts when the machines to be assembled land on the assembly area and ends when the plant becomes operational. It covers all kinds of sudden and unexpected damages that may occur to the preparatory materials or related assembly equipment and work machines in the construction site.
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What Does It Cover?
Which Assembly Jobs Is Covered?
Machinery and equipment that will be installed to be put into operation can be covered with this insurance type. The machines subject to assembly can be mechanical or electronic. In addition, indoor electricity, pipes, heating-ventilation installations, electricity and pipe transmission lines and so on. assembly works can also be guaranteed with this product. With this insurance type, which has a very wide application area, it is possible to insure even the construction works that may arise due to assembly works.
Which Risks Include?
Fire, lightning, explosion, damage during extinguishing, flood, flood, rain, snow, sea waves, plane crash, parts falling from plane, storm, earthquake , landslide / collapse, rock fall, theft, human-induced damage (carelessness, negligence, etc.), electrical damages, operational accidents risks are covered.
How to Calculate Bonus and Duration?
With the value of the machine, installation and material to be mounted (including customs, taxes, duties and fees, if any, shipping and assembly costs), If insurance is made, the machinery, tools and equipment used for the assembly should not be less than the current market value of the temporary barracks and auxiliary facilities.
How to Calculate Insurance Cost?
Insurance cost in assembly fuses; It should be determined over the price at the time the job is finished. So the insurance cost; project cost. The tender price can also be taken into account when determining the insurance amount. However, in long term policies, this amount may be insufficient over time and succumb to inflation. Therefore; Insurance in foreign currency is always the right method to protect large construction projects against the risk of underinsurance.
