Engineering Insurance
Secure Every Project, Every Time
Contractor & Machinery Protection
Project Delay Coverage
Third-Party Liability Included
Debris Removal Support
Extended Maintenance Cover
Custom Add-on Options
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What is Engineering Insurance?
Engineering insurance protects you from financial losses during engineering projects' construction, operation, or maintenance.
Whether you're working on a large-scale construction site, managing heavy machinery, or overseeing a technical installation, things don't always go as planned. Accidents, machinery breakdowns, or even natural disasters can disrupt your work and lead to unexpected expenses that may wipe out your savings in no time.
At BuyVima, we help you:
Find the right engineering insurance policy from our partner insurers
Safeguard your investment in construction and machinery projects
Get coverage for equipment damage, project delays, and third-party liabilities
Focus on your project without constantly worrying about the 'what ifs'
This insurance policy acts as your safety net-helping you complete projects on time and within budget, even when unexpected events occur.
Who Should Consider Engineering Insurance?
Engineering insurance is essential for businesses involved in construction, machinery operations, and technical installations.
Contractors & Construction Companies
Comprehensive protection for construction projects, from site preparation to project completion.
Construction project coverage
Third-party liability
Equipment protection
Manufacturers & Factories
Protection for heavy machinery, production equipment, and industrial installations.
Machinery breakdown coverage
Equipment protection
Production continuity
Machinery Installation Projects
Coverage for erection and installation of machinery, plants, and steel structures.
Erection coverage
Installation protection
Project delay coverage
Boiler & Pressure Vessel Operators
Specialized protection for industries operating boilers and pressure vessels.
Boiler protection
Pressure vessel coverage
Safety compliance
Electronic Equipment Users
Protection for computers, medical machines, and industrial electronics.
Electronic equipment coverage
Data protection
Equipment replacement
Project Owners & Developers
Comprehensive coverage for project owners overseeing construction and engineering activities.
Project protection
Investment security
Liability coverage
Types of Engineering Insurance
At BuyVima, we partner with leading insurers to offer a comprehensive range of engineering insurance policies designed for different project needs.
Contractor's All Risk Policy
Comprehensive insurance coverage for construction projects. Safeguards contractors, subcontractors, and project owners against various risks during construction.
Contractor's Plant & Machinery Insurance
Protects valuable equipment and machinery used in construction. Covers excavators, cranes, bulldozers, and other heavy equipment against accidental damages, theft, fire, and natural calamities.
Erection All Risk Insurance
All-round protection during the installation of machinery, plants, or steel structures. Safeguards against fire, natural disasters, theft, or accidents that could damage equipment or delay projects.
Machinery Breakdown Policy
Protects businesses from financial losses when machines suddenly break down. Covers the cost of repairing or replacing damaged machinery, ensuring minimal disruption to operations.
Boiler Pressure Plant Insurance
Essential for industries operating boilers and pressure vessels. Offers financial protection against accidents, malfunctions, and damage to boilers, pressure vessels, and surrounding property.
Electronic Equipment Policy
Protects valuable gadgets and electronic systems from unexpected damage. Covers computers, medical machines, and industrial electronics against fire, theft, accidental damage, or natural disasters.
What's Included and What's Not
Below are standard inclusions and exclusions. Actual coverage may vary by insurer and policy type. Our team will walk you through all exclusions transparently. Knowing the inclusions and exclusions ensures your project gets the right protection without unexpected gaps.
Malicious acts and riots: Protection against damages caused by intentional harm or civil disturbances like riots.
Fire, lightning, explosion: Coverage for damages resulting from fire, lightning strikes or explosions
Floods, catastrophic storms, and other associated perils: Protection against natural disasters like floods and severe weather events.
Earth's movements, including landslides, rockslides, and subsidence: Coverage for damages caused by movements of the earth, such as landslides and sinking ground.
Defects in construction: Protection against faults in construction, whether structural or material, that may lead to damage or failure.
Burglary or theft: Coverage against loss or damage due to theft or burglary.
Human errors or negligence: Protection against damages resulting from mistakes or negligence during engineering processes.
Voltage fluctuations, short-circuits: Coverage for electrical damages caused by power fluctuations or short circuits.
Mechanical breakdown: Protection for mechanical failures or breakdowns of equipment and machinery
Impacts, foreign objects, collapses: Coverage for damages resulting from impacts, foreign objects or structural collapses
Any unforeseen accidents: Coverage for unexpected accidents or events that are not otherwise specifically mentioned in the policy.
Add-ons in Engineering Insurance
Extend your coverage with add-ons that offer additional protection beyond the base plan. These add-ons help you cover specific risks and can be chosen for a small additional premium.
Note: Add-ons cannot exceed the coverage limit set by the base policy.
Cross Liability
Covers if you are held liable for damage or injury to a third party, even if the insurance policy also covers that third party.
Third-Party Liability
Protects you in case you are found liable for damage or injury to a third party, providing coverage for legal costs and compensation.
Express Freight & Overtime Charges
Covers additional costs incurred for express freight or overtime charges needed to speed up operations or transportation.
Debris Removal Cost
Provides coverage for the cost of clearing debris following an insured event, helping to restore the site quickly.
Airfreight
Covers the cost of transporting goods by air in case of urgency or transportation needs.
Escalation
Covers increases in construction costs, such as price hikes for materials or labour, ensuring adequate coverage.
Additional Custom Duty
Provides coverage for any extra customs duties that may arise due to the importation of goods during a project.
Surrounding Property Protection
Protects the owner's surrounding property from damage caused during construction activities.
Dismantling
Covers the cost of dismantling machinery or structures after a loss, ensuring efficient worksite clearance.
Storage Risk at Fabricators
Covers risks related to storing materials or equipment at fabricators' premises, ensuring protection against loss or damage.
Extended Maintenance Cover
Provides ongoing maintenance and support for insured equipment or machinery, covering regular inspections and technician visits.
Frequently Asked Questions
FAQs About Engineering Insurance
BuyVima answers the most common queries to help you understand engineering insurance before choosing.