The building blocks of engineering insurance

In the dynamic world of engineering, 1 thing is constant: Risk.

At King Price, we’re known for our innovative, tailor-made, and affordable engineering insurance solutions. That’s because we’ve developed an exceptional engineering insurance product. It manages the potential financial impact of various engineering risks, allowing you to focus on project delivery and excellence.

Let’s take a closer look at the 8 specific sections of engineering risks covered by the king of insurance:

1. Construction risks

We provide comprehensive cover for construction risks. These include unexpected accidents, and damage or loss caused by a broad range of perils such as fire, storm, or theft. Our cover extends to structures, equipment, machinery, and even third party liabilities, ensuring your project stays on track despite the challenges encountered.

2. Machinery breakdown

Time is money and nothing can be more frustrating than project delays due to machinery breakdowns. King Price’s machinery breakdown cover includes repair or replacement costs for machinery that fails unexpectedly. This includes electrical or mechanical breakdowns, thus ensuring minimal downtime and maximal productivity.

3. Business interruption

Project delays can lead to significant financial losses. With the king’s business interruption cover, businesses can protect themselves against losses resulting from insured incidents that interrupt operations, helping you recover lost profits and continue business operations with minimal disruption.

4. Electronic equipment

The impact of technology is huge. In today’s tech-driven world, electronic equipment is often at the heart of engineering projects. With our electronic equipment cover option, you’re covered for physical loss or damage to electronic equipment and data media, safeguarding businesses against potential technological failures or breakdowns, as noted on your policy schedule.

5. Deterioration of stock

King Price understands the importance linked to the value of your stock and provides insurance to cover the financial loss due to deterioration of stock in cold storage, resulting from a change in temperature due to machinery breakdown. Protect your stock and secure your peace of mind with the king’s deterioration of stock cover.

6. Works damage

This type of cover is designed to protect against accidental physical loss or damage to civil engineering works during construction. The king’s works damage cover includes losses due to natural disasters, theft, or vandalism, providing a safety net for completing your civil engineering projects.

7. Plant all risks

Engineering projects often involve heavy machinery and equipment that carry inherent risks. Our plant all risks option offers broad cover for any accidental loss or damage to plant and machinery, ensuring your assets are protected.

8. Machinery loss of profits

Machinery breakdown can result in prolonged work stoppages and subsequent loss of profits. King Price offers insurance to cover the loss of profits following machinery breakdown, ensuring your business has the chance to stay financially stable even in the face of unforeseen machinery failures.

Risk is an inevitable component of the engineering sector, but with engineering insurance from King Price, you can confidently navigate these uncertainties. Each section of our comprehensive engineering cover is meticulously designed to protect against potential losses and help your engineering business thrive despite challenges.

With King Price’s engineering insurance, you get more than an insurance provider; you gain a dependable partner committed to your business’s success.

For more info or a commitment-free quote, chat to your broker.