Which factors are considered for arriving at the sum insured under the Erection All Risk insurance policy?

Under the Erection All Risk Insurance policy, various factors have to be considered such as:

Prime cost of the machinery (Bare cost) (Manufacturers / Suppliers / Fabricators) +
Freight (Inland and Ocean) +
Duties / Excise paid at the point of origin, if any +
Supervision cost at the point of loading, if any +
Supervision cost at the point of destination, if any +
Customs / Excise duty at the point of discharge, if any +
Warehousing charges, if any +
Clearing and forwarding expenses +
Fabrication charges +
Handling charges +
Erection, supervision and other incidentals and other overheads
Avdhoot Investment