As a contractor, you are needed to use expensive site equipment and machinery to complete your projects. It’s not only expensive to repair, replace these machines, their damage may cause a significant downtime in your operations.
Our Contractors’ Plant and Machinery cover is targeted at this need of yours.
This description is intended to be a general summary of the type of coverage included in this product. Your needs maybe very different and will need different kinds of cover to actually manage the risks involved. We understand this and are happy to built a specific policy that will meet your requirements.
Summary of Cover
A standard Contractors’ Plant and Machinery policy, subject to certain exceptions, covers your plant and machinery against any unforeseen and sudden physical loss or damage from any cause that is not otherwise excluded.
If the above coverage is not enough to encompass your needs, you’re more than welcomed to request a tailor-made product with extended covers* for items such as:
- Damage due to Strike Riot
- Cover of extra charge for overtime night work on public holidays & express freight
- Cover of extra charge for airfreight
- Damage during inland transit
*extended cover comes with additional premium
A quick glance at some of the exclusions for this product:
- Electrical/ mechanical breakdown
- damage to replaceable pasts and attachments
- wear & tear
- damage occurring whilst undergoing a test/ being used for purpose other than that for which is was designed
- damage occurring whilst working underground
- war risk/ political risk exclusion
- nuclear/ ionizing radiations/ contamination by radioactivity from any nuclear fuel or waste
- damage due to faults or defects exsiting prior to the commencement of the policy
- damage for which the manufacturer is responsible
- willful act or willful negligence
- consequential loss
- damage discovered only at the time of taking an inventory
- IT Clarificaton Clause
- Pollution exclusion
- Asbestos Exclusion
- Terrorism Exclusion