Contractor's Plant & Machinery
Some machineries/equipment that can be covered under Contractors Plant & Machinery insurance are:-
What it covers
This policy is on all risks policy covering loss or damage to the property by any cause, to name a few:-
Plant and equipment often constitute a considerable part of a building contractor's investment. Contractor's Plant and Machinery is an exclusive all risks policy covering the plant and machinery used by the contractors at the site for various projects.
Contractors Plant and Machinery Insurance covers the property whether they are at work or at rest, or being dismantled for the purpose of cleaning or overhauling, or in the course of operations or when being shifted within the premises or during subsequent re-erection, but in any case only after successful commissioning.
Some machineries/equipment that can be covered under Contractors Plant & Machinery insurance are:-
- Earthmoving equipment such as Bulldozer, grader, scraper, excavator, loader, dumper, etc
- Concrete mixer, concrete pumps
- Lifting equipment, tower cranes and drilling equipment, road surfacing equipment
- Batching plant for production of concrete or asphalt
- Concrete or bitumen paving machines
What it covers
This policy is on all risks policy covering loss or damage to the property by any cause, to name a few:-
- Fire and allied perils
- Landslide, subsidence and rockslide
- Burglary and theft
- Collision, overturning and falling
- Any other sudden, unforeseen, accidental damages not explicitly excluded
- Electrical /mechanical breakdown
- Vehicles designed and licensed for general road use
- Hull and machinery of waterborne vessel/crafts
- Plant/machinery working underground
- Equipments undergoing testing
- Replaceable parts
- Loss or damage due to explosion of boiler/pressure vessel
- Total or partial immersion in tidal waters
- Whilst in transit
- Consequential Loss
- Political risks exclusions
- Radioactive exclusions
- Pollution/contamination exclusions
