Under the Erection All Risk insurance policy of Bajaj Allianz General Insurance the client is offered insurance against all the possible dangers he may have to face in the construction business. It covers the different risks involved in erecting structures, testing their strength and commissioning them.
The insurances offered under this plan include insurance of goods or articles being transported from one place to another by all means except air, customs duty, insurance of the equipment being used by the contractor on the insured site, storage risks of articles on site, liability towards a third party and expenses for the removal of debris. The policy also covers the expenses in case testing operations take longer than was anticipated and if there are losses to the client due to delays or disturbances in the process of the business.
The advantages of the Erection All Risk insurance policy of Bajaj Allianz General Insurance are plentiful no doubt but there are also a number of reasons the plan will not function for. In case of damages caused by war operations, intentional destruction of property, damages incurred due to the carelessness of workmen etc. the plan stands null. In addition if the client is involved in legal issues or causes some damage to the surrounding area that is not insured then too the policy is not liable to pay the expenses.
The Erection All Risk insurance policy of Bajaj Allianz General Insurance is an erection cum storage policy and so deals with the insurance of those things alone. The client is advised to read the terms carefully before signing the agreement.