Property & Engineering
Property and Engineering insurance
Property insurance is a policy that provides financial reimbursement to the owner or renter of a structure and its contents in the event of damage or theft. If there's a claim, the property insurance policy will either reimburse the policyholder for the actual value of the damage or the replacement cost to remedy the damage.
An Engineering risk insurance is a policy that covers the loss arising out of the erection and installation of machinery, plant and steel structures. It protects coverage against physical damage to the contract works, equipment, and machinery. This policy also covers the liability for third-party bodily injury or property damage.
Why should one buy Property and Engineering insurance
Covers Business Property
Protects Against Liabilities
Covers Electronic Equipment
nce Key points to remember when comparing Property and Engineering Insura
- Carefully Assess your Insurance Needs and Risks
- Know your Policy in Detail
- Check Deductible Limit
- Understand your legal obligations
- Check what your insurance policy doesn’t cover
- Sum insured should represent Present Day Replacement Value.
- Claim settlement is done once the expenses are incurred.