Common policies include Machinery Breakdown, Contractors All Risk (CAR), Erection All Risk (EAR), and Electronic Equipment Insurance.

Manufacturers, contractors, and infrastructure developers who use high-value machinery or undertake complex construction projects should obtain engineering coverage.

It covers sudden and unforeseen physical damage to insured machinery arising from mechanical, electrical, or operational failures while the machinery is in use or at rest.

Yes, spare parts, tools, and accessories can be covered if they are listed in the policy schedule or form part of the insured equipment.