Erection and installation insurance

The gap between transport and handover

While the goods are moving, marine cargo insurance applies. Once the object is in place and has been handed over, the operator's property and machinery policies take effect. In between lies the installation phase, and during that phase the risk is yours. Erection insurance connects directly to the transport cover and ends with handover.

Insured are all deliveries and services for putting up the object, which means structures, machines and plant including photovoltaic installations, as well as the equipment used for the installation itself. Cover extends to the typical site risks: clumsiness and negligence, theft of parts already built in, fire, storm, water, vandalism and faults in design.

Fixed premiums instead of uncertain risk loadings

Many businesses price installation risk as a loading in their quotation. That is an estimate, and it is either too high, in which case you lose the job, or too low, in which case the first serious loss costs you money. With erection insurance you put a fixed, calculable item into your quotations instead.

For businesses with a steady flow of installation work, an annual policy is worthwhile: it automatically includes every job up to an agreed contract value. Larger individual projects we insure separately. That way work that comes in at short notice is covered immediately, without every site having to be notified one by one.

What matters in the policy

The decisive point is the extent of the sum insured. It should reflect the full value of the object including freight, customs duties and installation costs. Just as important are the additional costs after a loss: clearance, earth moving, scaffolding and cranes, work at night and on public holidays, and express freight. Which of these items are covered, and up to what amount, is something we settle together with you and the insurer.

You should also settle the testing period after installation is complete, the treatment of existing structures when converting older buildings, and the question of who counts as an insured party under the contract, meaning the client, subcontractors or both. We match the policy to the terms your client requires.