Technical insurance

Technical insurance offers protection against unforeseen and sudden damage or destruction - for individual technical objects and, in special cases, for the entire machine park.
Technical insurance is therefore essentially an all-risk insurance policy, i.e., it covers all risks and damage that are unforeseeable and occur suddenly. Finally, there is a list of uninsured risks, i.e., exclusions.
The policyholder decides, based on their own risk assessment, which items they want to insure against which risks and which they do not. 
The following types of technical insurance are encountered in practice:

• Project insurance for construction and assembly projects, e.g., construction and erection insurance. 
• Inventory insurance for operational machinery, systems, equipment, devices, mobile and self-propelled work machines, and IT equipment that have been in use for years. The main types of insurance here are comprehensive machinery insurance, machinery insurance, and electronics insurance.

Technical insurance covers damage to machinery, systems, apparatus, mechanical and electronic devices. The cover can be individually extended with additional cover if desired.
Technical insurance is useful if you want to insure your machinery and equipment against damage caused by accidents (comprehensive damage) or, additionally, technical problems (internal operational damage). If there is no property insurance and if desired by the policyholder, fire, natural hazards, and theft damage can be included as additional coverage for mobile and self-propelled work machines and mobile objects.
You need property insurance to protect your inventory and buildings against damage caused by fire, natural hazards, water, theft, and similar risks. There is also additional coverage, e.g., for technical hazards. Depending on the scope of coverage selected, property insurance may therefore cover some of the same risks as technical insurance.
Depending on your business, it may make sense to use only one of these insurance policies or both. In any case, we recommend consulting with an expert to clarify what is right for your company.

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Zurich offers various insurance policies to protect your equipment, systems, and machinery:

• Machinery and electronics insurance
• Zurich greenTec
• Installation insurance
• Builder‘s risk insurance and principal's liability insurance

We offer comprehensive insurance policies covering machinery insurance and insurance for electronic devices and IT equipment. The most important additional coverages are extra cost insurance to maintain operations in the event of damage, and business interruption insurance, which covers loss of earnings as a result of an insured loss.
Zurich greenTec machinery insurance with comprehensive specific benefits is suitable for the use of technologies for the generation or utilization of renewable energies such as solar energy, wind and water power, environmental heat, biomass, and energy-efficient building technology.
For project plans, such as plant construction installations, including any trial operations, and element construction, installation insurance protects the executing suppliers from the financial consequences of damage to the machines and systems being installed. 
Installation insurance can also be issued for the client or purchaser as the policyholder.
For companies with large, "fluctuating machinery" or frequently recurring, similar project orders, framework agreements are drawn up to simplify processes. 
Construction insurance – supplemented by builder's liability insurance and legal protection insurance – offers optimal protection for building and civil engineering projects.

This depends, among other things, on

• the industry in which your company operates (e.g., machinery and metal industry, manufacturing, construction, agriculture, transportation, healthcare, public services) and 
• whether your company produces, builds, and/or assembles products or provides services.

The best way to answer this question is in a personal consultation. Together, we will first discuss your current situation and examine which coverages and scope make sense. We will show you options and advise you.

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