Erection All Risks

In the fast-paced construction and infrastructure development landscape of Uganda, unforeseen risks can cripple projects and erode bottom lines.

One powerful tool that’s often underutilized in mitigating these risks is Erection All Risk Insurance, a specialized insurance policy tailored to the unique needs of complex construction and engineering projects.

What is Erection All Risks Insurance?

An Erection All Risk Insurance Policy is tailored towards businesses that are involved in the assembling, erection, and testing or commissioning of new machinery, plant, and steel structures requiring minimal civil engineering work.

Originally developed for large-scale construction and infrastructure projects, the policy has evolved to service a broader spectrum of businesses, including small and medium-sized enterprises (SMEs).

The core principle of an Erection All Risk policy is to mitigate potential financial losses due to sudden and accidental damage during the erection process.

What Does Erection All Risks Insurance Cover?

Understanding the breadth that Erection All Risk insurance coverage affords is essential before considering it for your business operations.

At the heart of the GoldStar Erection All Risk Insurance Policy lies extensive protection for your projects.

This Erection All Risks policy offers coverage against the various risks associated with construction projects involving activities such as installation and erection of machinery, plant, and steel structures.

Our policy ensures that your business doesn’t bear the financial burden in-case of physical loss or damage to the insured property while in the construction, erection, and installation phases. The cover extends to include accidental damages from external causes as well.

Whether it’s a situation of natural calamity or unexpected circumstances like fire, lightning, explosion, earthquake, flood, storm and landslides, your construction projects are well-protected with Goldstar’s Erection All Risk insurance cover.

Theft And Vandalism

Our Comprehensive coverage includes financial losses or damages that the insured might suffer due to theft, burglary, or vandalism at the construction site.

Transit Coverage

At GoldStar we offer protection for materials, machinery, and equipment while in transit to the construction site, covering risks such as accidental damage and theft during transportation.

Testing And Commissioning

This policy also offers coverage for damages which might occur during testing and commissioning of the machinery or plant, which is one of the most critical phases in construction projects.

The GoldStar Erection All Risk insurance policy provides a critical layer of financial protection against legal Third-Party Liability. This could arise from accidental damage to third-party property and / or accidental bodily injury or death of third parties caused by the erection or installation activities.

GoldStar's Erection All Risks Insurance Optional Add-Ons

In addition to our standard EAR policy coverage, we also offer optional additional extensions that give you the flexibility to customize your policy according to your specific needs. These allow you to extend your coverage and further protect your business from potential risks.

Maintenance Coverage

Maintenance

This offers extended coverage during the maintenance period also known as the Defects Liability Period (DLP) following project completion, including damages discovered during routine maintenance.

Political Violence and Acts of Terrorism

Political Violence And Acts Of Terrorism

As much as we hope unfortunate incidents never occur, in an unpredictable World, we believe in leaving no stone unturned to ensure your peace of mind. This extension will ensure your financial stability remains unshaken even if your business is impacted by political disturbances and terrorist activities.

Professional Fees

This extension includes costs of hiring professionals such as engineers or consultants to assess and repair damages.

Debris Removal

This extends to cover costs of removing debris following an occurrence of an insured event.

Expediting Expenses

These include additional costs incurred to expedite the repair or replacement of damaged property to minimize project delays.

Cross Liability

This extension allows multiple insured parties to claim against each other, as if each party had a separate policy.

Owner’s Surrounding Property

This is important to safeguard the property surrounding the construction site against accidental damage.

Choose GoldStar's Erection All Risks Insurance

In essence, GoldStar’s Erection All Risk Insurance Policy is designed to provide your Ugandan business with protection against many unpredictable adversities, thereby ensuring that your business operations proceed smoothly and effectively.

For construction enterprises in Uganda, the path from conception to completion is riddled with challenges, risks, and potential rewards. An erection insurance policy acts as a steadfast companion, helping to mitigate the risks that could impede the progress of your projects.

In order to make an informed decision about choosing GoldStar’s Erection All Risk Insurance, take a look at the Key Considerations to note and the Exclusions that apply to this policy.

Other types of insurance cover

Contractors All Risks

Contractors All Risks insurance is property insurance for any building or civil engineering project. Cover on site during construction period…

Burglary Insurance

This covers property while contained in the premises be lost or damaged by theft involving entry into or exit from the premises by forcible or violent means.

Fire Loss Insurance

A major accident at a business premises cannot only destroy the assets but also bring the business to a standstill, leading to loss of gross profit.

FAQ’s

How do I cover items that I take away from the home?

You will need contents insurance, sometimes known as all risk cover, for items for which you require cover out with the home. Please provide details of these items at the time of quotation to ensure that the policy provided meets with your requirements.

What is accidental damage cover?

Accidental Damage cover provides protection against costs incurred through damage that you, your family members or visitors may cause to the structure of your Building or to your Contents. Examples of incidents which would be covered under this extension include putting your foot through the loft floor damaging the ceiling below, leaving a tap running leading to water damage or carpet spillages. Such incidents would not be included under a policy taken out to cover Standard Perils only.

Additional charges will apply and in certain circumstances this cover might not be available.

Are items in my garage or shed covered?

Items kept in the garage or garden sheds will be covered under the Contents section of your policy provided you have included their value in the total sum insured declared. Limits may apply to the amount that can be claimed for theft of items taken from outbuildings and additional charges may be made for certain items such as ride on mowers. Cover for motor vehicles and motorcycles is excluded. Please declare your requirements for cover kept in outbuildings at the time of quotation to ensure that the policy provided meets with your requirements.

I live in rental accommodation. Do I still need insurance?

In most cases you will need to arrange cover for your own contents and personal possessions. Please refer to your tenancy agreement to check what, if any cover is provided by your landlord.

What is an excess?

An excess is the amount a policyholder is required to pay towards the cost of any claim. You may be asked to pay this amount to a company that has carried out repairs on behalf of your insurer, or alternatively the sum will be deducted from any settlement received.

Tips:

Goldstar claim process

No matter what your worry is, we’re here to help explain the process, assess your claim fairly and minimize the disruption to you with a transparent claims process.

Contact Us

Plot 38 Kampala Road, Crane Chambers, Kampala

+256 41 4250110

marketing@goldstarinsurance.com