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Which factors are considered for arriving at the sum insured under the Erection All Risk insurance policy?

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tPara"> Under the Erection All Risk insurance policy, various factors have to be considered such as:

  • Prime cost of the machinery (Bare cost) (Manufacturers / Suppliers / Fabricators) plus
  • Freight (Inland and Ocean) plus
  • Duties / Excise paid at the point of origin, if any +
  • Supervision cost at the point of loading, if any +
  • Supervision cost at the point of destination, if any +
  • Customs / Excise duty at the point of discharge, if any +
  • Warehousing charges, if any +
  • Clearing and forwarding expenses +
  • Fabrication charges +
  • Handling charges +
  • Erection, supervision and other incidentals and other overheads
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