Comprehensive Installation Risks Insurance

This type of insurance has become increasingly important due to economic growth and the need for individuals, businesses, and government entities to undertake various projects that meet these needs. Examples include the construction of residential buildings, schools, hospitals, roads, bridges, factories, dams, power plants, and water desalination plants. This coverage takes into account the interests of all parties involved in the insured project, such as:

• Project Owner / Consulting Engineer (responsible for design and/or supervision).
• Contractor and/or Subcontractors.
• Third Parties (those who are not involved or have an interest in the contract or its execution).

During installation, properties may be exposed to damage or risks due to sudden and unexpected accidents within the project site, as well as potential damage to third-party properties. This insurance provides financial protection for the insured from the costs associated with repairing damage or loss caused by errors or accidents during the installation process.

Why Choose Comprehensive Installation Risks Insurance from Takaful?

Insurance Coverage:

Takaful Insurance provides protection against the following risks:

1. Material Risks:

• Project-Related Property: Covers properties located on the project site.
• Contractor’s Equipment and Machinery: Insures the equipment and machinery used in construction.
• Debris Removal Costs: Covers the costs of removing debris from an accidental demolition.
• Loss of Architects/Consultants’ Fees: Covers losses that affect the fees of architects or consultants due to the accident.
• Additionally, the insurance covers any material damage that may occur during the trial period following the installation completion.

2. Civil Liability Risks Towards Third Parties:

• Bodily Injury or Death: Covers bodily injury or death resulting from project work during execution.
• Damage to Third-Party Property: Includes damages to third-party property due to accidents or installation errors.

3. Mutual Liability Risks (Owner/Contractor):

• Covers injuries, bodily harm, or death that may affect the project owner, contractors, engineers, or workers during project execution.

Calculation of Insurance Premiums:

The calculation of premiums is based on several factors, including:

• Type of Risk Covered: Insurance covers material risks, civil liability, or mutual liability.
• Total Insurance Value (Compensation Limit): Premiums are based on the value of insurance that covers potential losses.
• Nature of the Project: Type and size of the project (construction, infrastructure, etc.).
• Project Duration: The period over which the project will be completed.
• Deductibles: The amounts the insured will be responsible for in case of losses or accidents.
• Project Location: The geographical location of the project.
• Safety Measures: The presence or absence of preventive safety measures.

Premiums are calculated as a percentage per thousand of the total insured value (compensation coverage limit).

For more information, please contact us at 1800220220 or via mobile at #600.

Contractors' Risks and Installation All Risks Insurance:

Contractors' risks and installation all risks insurance are among the most crucial types of insurance, especially with the increasing need for large-scale construction projects. These projects include residential buildings, hospitals, schools, roads, bridges, factories, power plants, water desalination plants, and other projects executed by economic and governmental entities.

Insurance Coverage:
Section 1: Coverage of the Construction Contract Value:
This coverage protects against any damages that may occur from the moment the materials for the project are stored, whether at the work site or any other agreed location. The coverage extends until the project is handed over to the owner, after its completion or once the owner or others begin using the project during the
insurance period.
Section 2: Third-Party Liability Coverage:
This coverage is designed to protect third parties, i.e., individuals who are not involved in the contractual relationship. It provides compensation for death, bodily injury, or material damage caused by the implementation of the construction contract. It includes unforeseen and unexpected accidents that may occur during the project.

Beneficiaries of the Insurance Coverage:

• Project Owner: The individual or entity owning the project.
• Consulting Engineer: Responsible for the design or supervision of the project.
• Executing Contractor: The company or individual responsible for executing the project.
• Subcontractors: Contractors responsible for executing parts of the project.

Other Coverage:
Coverage Against Unforeseen Accidents: The insurance covers any death, bodily injury, or material damage to third parties caused by unforeseen accidents during the execution of the project.

Benefits of the Insurance:

• Financial Protection: This insurance protects all parties associated with the project from financial damages resulting from unexpected accidents.
• Comprehensive Coverage: It guarantees compensation for the affected parties, whether the damaged party is the owner, contractor, or third party.
• Compliance with Laws: It helps in complying with regulations that mandate insurance coverage for damages during the execution of construction projects.

Calculation of Insurance Premiums:
The calculation of premiums is affected by:

• Contract Value: The total value of the construction contract.
• Worksite Location: The geographical location of the construction site.
• Type and Size of the Project: The complexity and scale of the project.
• Safety and Preventive Measures: The safety procedures and protocols in place at the worksite.
• Project Duration: The timeline for the completion of the project.

This insurance solution is ideal for covering risks associated with the execution of construction projects, providing comprehensive protection for all involved parties.

For more information, please contact us at 1800220220 or via mobile at #600.

Electronic Devices Insurance:

At Takaful Insurance, we offer a suitable solution to protect your electronic devices. If you own an electronic device and worry about potential damage or loss, we provide the right insurance to safeguard your device or protect you from financial losses.

Why Choose Takaful's Electronic Devices Insurance?

This type of insurance specializes in covering devices primarily composed of electronic components, including:

• Medical equipment: Such as X-ray machines, MRI machines, and diagnostic equipment.
• Computers and servers.
• Communication devices.
• Studio equipment.

Insurance Coverage:

Your devices will be covered against damage or loss caused by:

• Fire.
• Lightning.
• Explosion.
• Operational errors.

Additionally, other coverages are included to protect your electronic device from unexpected accidents or sudden events.

Calculation of Insurance Premiums:

The calculation of premiums depends on several factors, including:

• Type of Devices Covered and Their Sensitivity.
• Total Insurance Value: The premiums are based on the insurance value that covers potential losses.
• Deductibles: The amount that the insured is responsible for in the event of a loss.
• Safety Measures in Place: Whether preventive measures are implemented or not.

For more information, please contact us at 1800220220 or via mobile at #600.

Equipment and Machinery Risks Insurance

This type of insurance falls under engineering insurance, as it is related to the use of machinery and equipment in executing engineering works. The policy covers any loss or damage to machinery and equipment resulting from an accidental and unexpected event. This is similar to other engineering insurance policies, whether the equipment is in operation or not.

Under this program, you will be compensated for the loss resulting from partial damage to any insured equipment or machinery based on the actual repair cost or the replacement value, without any deductions for depreciation or reduction in value.

In case of total loss of the equipment or machinery, compensation is calculated based on the actual value of the equipment or machinery before the accident, with a percentage deducted to reflect the depreciation over time. Additionally, the deductible amount agreed upon will be subtracted from the compensation.

Why Choose Equipment and Machinery Risks Insurance from Takaful?

Insurance Coverage :

The company is committed to compensating the insured for losses resulting from the following risks:

• Fire: Covers damages resulting from fire that causes equipment loss or damage.
• Overturning: Compensation for losses due to the overturning of machinery or equipment.
• Theft: Covers the loss of machinery or equipment in case of theft.
• Collision: Compensation for losses resulting from the collision of machinery or equipment with any other object.

Calculation of Insurance Premiums:

The calculation of premiums is influenced by several factors, including:

• Type of Covered Risk: Determining the risks covered by the insurance, such as fire, theft, etc.
• Total Insurance Value (Compensation Limit): Based on the value of the equipment or machinery being insured and the coverage required.
• Nature and Type of Equipment: Including whether the equipment is heavy-duty or light-duty, as well as its technical characteristics.
• Replacement Value: The amount that will be paid in case of loss, to cover the cost of replacing the damaged or lost equipment.
• Age of the Insured Equipment: The depreciation factor based on the age of the machinery.

Premiums are calculated as a percentage of the total insured value of the equipment (compensation limit), which is agreed upon with the insured party.

For more information, please contact us at 1800220220 or via mobile at #600.

Machinery and Equipment Breakage Insurance

This type of insurance is specifically designed to compensate the insured for damages caused to machinery and equipment due to unexpected accidents that may occur during their operation or maintenance. The primary goal of this insurance is to cover losses resulting from sudden mechanical failures.

Why Choose Machinery and Equipment Breakage Insurance from Takaful?

Insurance Coverage:

This insurance covers compensation for the insured in the following situations:

• During Operation or Shutdown: If the machinery breaks down or fails unexpectedly during operation or even while idle.
• During Maintenance: Includes damages that may occur during the maintenance process, such as disassembly, reassembly, or relocation of parts for cleaning or repairs on-site.

Obligations of the Insured:

• Prior Coverage: Machinery and equipment must be insured under a fire risk policy before the machinery breakdown insurance to ensure complete coverage.
• Maintenance: The insured must ensure proper maintenance and care of the machinery during its operation.
• Reporting Changes: If machinery is relocated or its location changes, the insured must notify the insurance company.
• Loss Minimization: The insured must make reasonable efforts to reduce losses or damages when an incident occurs.

Exclusions:

The machinery breakage insurance policy does not cover damages or losses arising from the following circumstances:

• Wars or Radiation: Damages caused by wars or radiation are excluded from coverage.
• Rust and Wear: Damages caused by rust or normal wear and tear due to regular use.
• Intentional Damages: Damages resulting from negligence or intentional acts by the insured.

Compensation:

When damage occurs, compensation is based on repairing the machinery or replacing the damaged parts. If any additions or modifications were made to the machinery after insurance, the insured will be charged the difference for these additional benefits.

Benefits of Machinery and Equipment Breakage Insurance:

This type of insurance enhances the protection of businesses that rely on machinery and equipment for their operations, ensuring smooth continuity of work in case of any unexpected breakdowns.

For more information, please contact us at 1800220220 or via mobile at #600.