Plant and equipment often constitute a considerable part of a contractor’s investment project. Our CONTRACTOR’S PLANT AND MACHINERY Insurance Police is an exclusive all risks insurance policy covering the plant and machinery used by the contractors at the site for various projects.
You can always rest assured with our insurance Policy because it 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.
The Insured: investors, contractors, lessors of machinery and equipment, the lessee of machinery and equipment …
Insured objects: Machinery and equipment for construction/installation owned or hired by Contractors such as bulldozers, excavators, crushers, road rollers, cranes, equipment cranes, lifting equipment, pile drivers, tampers…
Coverage: CVI will compensate the Insured for loss or damage to the insured machinery caused by the following:
– Acts from nature: floods, storms, hurricanes, tsunamis, lightning, subsidence, landslides, earthquakes, volcanic eruptions …;
– Human activities (on-site): fire, explosion, inexperience, carelessness, total loss due to theft …;
– Other causes: falls, flips, drops, collisions and other sudden unexpected accidents during operation or movement in the construction site;
– Losses occur during its operation or shutting down, or being dismantled for the purpose of cleaning or overhauling, or in the course of the aforesaid operations themselves, or in the course of subsequent re-erection, but in any case only after successful commissioning.
In addition, the CVI also expands this insurance to cover for loss to machinery by accident happening during its transportation from the warehouse to the construction site or in the reverse direction after completion of the project.