Contractors plant and machinery insurance provide coverage for loss or damage caused to machines used in the construction site and manufacturing plant. Apart from this, the insurance plan covers third-party claims against bodily injury and property damage caused at the insured construction site during the policy tenure. Equipment such as forklift trucks, compressors, bulldozers, and drilling machines constitute a significant portion of a contractor's capital investment.Read more
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Following are the key features of the Contractors plant and machinery insurance:
Building contractors whether owning or renting machinery, face significant financial risks in case of damage or loss. Contractors plant and machinery insurance provides essential protection, offering benefits and peace of mind by covering potential losses or damages. Contractors plant and machinery insurance is highly recommended for contractors to safeguard their valuable machinery investments.
The Plant and Machinery Insurance covers the following:
On payment of additional premium, you can opt for the following add ons under contractor plant and machinery:
The common exclusions under contractors plant and machinery insurance are as follows:
Loss/damage to insured plant and machinery due to:
Anyone of the following parties can take the insurance, either individually or jointly:
In the event of any loss or damage, follow the below mentioned steps:
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