Contractors Plant and Machinery

Contractors Plant and Machinery

  • This policy covers all different types of machinery used for handing material or construction.
  • The policy covers sudden, accidental, external damage to the insured machinery due to any cause other than those specifically excluded in the policy.
  • The policy covers the machinery whilst they are in operation or at rest or whilst being dismantled for the purpose of cleaning or overhauling or whilst being shifted within the premises or during subsequent re-erection, but in any case only after successful commissioning.

*Subject to exclusions as per policy

Benefits

  • The policy covers sudden, accidental, external damage to the insured machinery due to any cause other than those specifically excluded in the policy.

Features

  • Scope of cover: Machinery whilst they are in operation or at rest or whilst being dismantled for the purpose of cleaning or overhauling or whilst being shifted within the premises or during subsequent re-erection, but in any case only after successful commissioning.
*Subject to exclusions as per policy

FAQS

1. Is premium paid at the time of claim? No. Premium is paid at inception of cover. 2. What is excluded from the policy?
  • Loss or damage to the replaceable parts or attachments connecting wires and cables, flexible pipes, jointing and packing material regularly replaced.
  • 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.
  • The deductible stated in the policy to be borne by the insured in any one occurrence. If more than one item is lost or damaged in one occurrence, the insured shall not be called upon to bear more than the highest single deductible applicable to such items.
  • Loss or damage due to electrical or mechanical breakdown, failure, breakage or derangement, freezing of coolant or other fluid, defective lubrication or lack of oil coolant but if as a consequent of such breakdown or derangement an accident occurs causing external damage, such consequential damage shall be indemnifiable.