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Engineering Insurance

ENGINEERING INSURANCE

Engineering is a highly specialised industry, with various risks and liability concerns that are unique to it (e.g. construction guarantees). For this reason, Compendium has formulated engineering-specific cover that combines both standard and speciality products to ensure a maximum level of protection
for your organisation.


At Compendium, we offer insurance for the engineering, construction, civils and development fields.



Engineering insurance follows the same principles as standard insurance policies, with terms and conditions such as “average”, time notification, etc. being applicable.

Contract works and liability: All risks and liability cover for the erection of anything from private houses to roads, bridges and dams. This covers loss and damage to construction plant and equipment. It can be extended to cover hiring costs and charges.

Machinery breakdown: This covers sudden and unforeseen loss or damage to machinery and plant arising from mechanical/electrical breakdown. The policy can be extended to cover loss of profits
resulting from such loss.

Dismantling, transit and erection: This is a contingency policy covering loss or damage during the operations insured against. The policy can also be extended to cover testing for new machines.

To speak to one of our brokers, contact us on 031 242 6800, or fill in the Request a Quote form.

 

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