Contractor Plant and Machinery Policy

Contractor Plant and Machinery Policy

Contractor Plant Risk Insurance Policy

Contractor Plant Risk Insurance Policy

The policy covers

Contractor plant and machinery policy is  “All Risk” policy covering sudden and unforeseen physical damage to machinery insured by any cause or peril not specifically excluded under the policy.

Optional extensions available to you

  • Owner’s surrounding policy
  • Clearance and removal of debris
  • Additional custom duty
  • Express freight
  • Air freight
  • Dismantling and shifting to a- new location
  • Escalation
  • Earthquake

The policy does not cover

  • Vehicles without identification number/ individual sum insured
  • Transit risks from site to site
  • Machinery breakdown risks, abandonment
  • Freezing of coolant or other fluids, defective lubrication, replaceable parts
  • Explosion due to steam pressure in I.C. engine
  • Vehicles plying on public roads and liability arising there of
  • Hull and machinery of water borne vessels crafts and pay loaders on barges
  • Total and partial immersion in tidal waters
  • Wear and tear, rusting, testing for other purposes, war and nuclear perils
  • Pe-existing defects at inception
  • Willful act/negligence of insured, Consequential loss I liability, inventory loss
  • Cost of preparing drawings I patterns I core boxes
  • Cost of alteration, improvement, overhauls, modifications, additions, material changes
  • Breakage I abrasion of wire or stands of rope/slings of a crane

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Posted in General Insurance.

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