Engineering Insurance

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What is Engineering Insurance?


Engineering Insurance is an insurance policy that covers a wide range of engineering related risks. It is a comprehensive insurance that provides complete protection against risks associated with erection, resting and working of any machinery, plant or equipment. In addition to this, under the Factories Acts businesses are required to have certification on specific items of plant such as lifting plant, pressure vessels and steam boilers. Suitably qualified engineers employed by an insurance company can inspect such items at the required intervals and provide the necessary certificates/documentation to meet your obligations.


Types of Engineering Covers

  • Sudden and unforeseen damage cover including breakdown from internal defects
  • Machinery Movement – transit and erection
  • Accidental damage cover for plant and equipment
  • Computer equipment cover for loss or damage by almost any external cause
  • Contract works cover – Erection All Risks
  • Deterioration of Stock


When Engineering Insurance is Essential


Explosion risks
Engineering insurance is essential to provide full cover for explosion risks. The peril ‘explosion’ in material damage cover provides only limited cover and excludes damage caused by any steam-pressured vessel.


Electrical breakdown
Insurance cover for electrical breakdown is essential where computers are involved. The policy can cover sudden and unforeseen loss or damage to the computer installation, the increased cost of working arising from such damage and the reinstatement of any data lost as a result of the breakdown.


Remember: The majority of engineering policies can be written either on a single, annual, specified or blanket basis. Engineering Inspection is now a compulsory requirement under the Factories Acts for a wide range of plant