Commercial Insurance

Key Benefits - covers loss or damage to plants and machinery


The policy provides comprehensive cover against physical loss or damage to the plant and machinery due to any cause other than those specifically excluded in the policy.

Add-ons are available to extend your cover to:

  • Express freight (air freight excluded), holiday and overtime rates of wages
  • Air freight
  • Owner's surrounding property
  • Third-party liability
  • Removal of debris.
  • Addl. Customs duty

The policy can be extended to cover loss or damage to proposer's surrounding property, third-party liability, clearance and removal of debris, etc., on payment of additional premium.

Main exclusions

The policy does not pay for certain contingencies/damages as below:

  • Excess amount specified
  • Any contractual liability or manufacturer's guarantee
  • Terrorism, unless specifically covered
  • War, warlike operations and nuclear perils
  • Damage to exchangeable tools or parts
  • Any fault or defect existing at the time of commencement of the policy
  • Gross negligence
  • Loss or damage discovered only at the time of taking an inventory
  • 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
  • Loss or damage while in transit from one location to another
  • Loss or damage due to total or partial immersion in tidal waters
  • Public liability while the plant and machinery are on public roads
  • Loss or damage due to abandonment of any plant and/or machinery working in underground mines or tunnels
  • Damage due to wear and tear, corrosion, rust, etc.

This is not an exhaustive list.

For further details and quotation, talk to us today at 1800-103-2292 (Toll free) or visit one of branches

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