Engineering Insurance - Engineering Insurance encompasses one of the Compulsory Insurance types. Engineering Inspection cover.  Certain items of Plant and Lifting equipment have statutory inspection times laid down by law and it is fairly common for these inspections to be carried out by an Insurance company.  To the inspection service, the insurer may add certain other types of Insurance cover known as Sudden & Unforeseen Damage & Fragmentation cover or Breakdown Insurance.  Amongst items that require statutory inspection are:-
 

• Steam boilers & Steam Ovens

• Steam pressure Plant

• Hot Water Boilers

• Air Pressure Plant

• Passenger Lifts

• Other Lifting Equipment

• Lifting Tackle

• Vehicle Lifts

Depending on the type of equipment, an inspection period in months is set by law, you should seek professional advice as whether your have any equipment that needs to be inspected, when arranging your business insurance always ask for any plant or machinery to be taken in to consideration so as the insurer can provide you with the correct advice. Different items are covered by different legislation, as a business owner, you should frequent yourself with all rules and regulations relating to the running of your business.

If you buy Engineering inspection insurance from an Insurer, the cover will be charged including Vat at the current rate not Insurance premium tax. This is basically because the Engineering Inspection is a service not an actual insurance. If you buy the additional cover s such as Sudden & Unforeseen Damage & Fragmentation cover, these will of course only attract the current insurance premium tax amount.  When you have purchased your Engineering Inspection Insurance, a convenient time will be arranged for the insurance company engineer to call at the required location.

As Engineering inspection premiums are calculated on time, you may find that your premium is adjusted upwards if the engineer finds that there are more items than were originally declared.  He will inspect your equipment then type up a report with his findings; he will notify you of any plant that needs to be repaired or replaced and it is then up to you to make the necessary arrangements for the work to be carried out. Note this work is seen as maintenance and will not be insured.  At the end of the report, the engineer will usually list when he is next due to call again which of course will be in line with any statutory requirements or guidelines laid down by Health & Safety Executive.