Commercial Insurance

Key Benefits - covers loss or damage to plants and machinery

Contractors-plant-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 080 - 49123900 or visit one of branches

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