Contractor Plant & Machinery

This Policy is design for covering physical loss or damage to various insured plant & machinery used at project site.

  • This policy provides cover for the: -Insured plant and machinery for any physical damage by any cause (unless specifically excluded)
  • Complete cover on partial or total damage to equipment or machinery
  • Insurance will be offered on current replacement value
  • Policy can be bought only after successful commissioning of the machinery
  • Cover for all insured items, whether at work, rest, or being dismantled for cleaning and overhauling
Add on cover offered with the policy-
  • Owners surrounding policy
  • Clearance and removal of debris
  • Additional customs duty
  • Express freight
  • Air freight
  • Dismantling and shifting to a new location
  • Escalation of cost
  • Earthquake
  • Third Party Liability
  • Terrorism
What does the policy not cover?
  • The excess as stated in the schedule
  • Loss or damage due to electrical or mechanical breakdown/failure
  • Pre-existing faults & damages
  • Loss of or damage to replaceable parts such as bits, drills, knives or other cutting edges, saw blades, dies, moulds etc.
  • Loss or damage due to explosion of any boiler or pressure vessel subject to internal steam or fluid pressure or of any internal combustion engine
  • Loss/damage to insured plant and machinery due to:
    • War and nuclear perils
    • Willful act/negligence of the insured
    • Contractual liability, manufacturers guarantee
    • Consequential loss or liability of any kind or description
  • Damage due to terrorism risk
  • Damage for which the supplier or manufacturer is responsible
  • Any kind of Transit Risk