Contractor Plant and Machinery Insurance ( CPM)

CONTRACTOR'S PLANT AND MACHINERY INSURANCE
If you are a civil engineer or a contractor, here is an insurance policy designed specially to protect your interests. This policy ensures that you are well covered against damage or destruction related to various civil engineering projects. The cover includes accidental damage to civil construction works, contractor's plants and machinery at the construction site and damage/defects during the subsequent period of maintenance for which you are liable under the terms of the agreement between you and the principal

Additional Covers
1.Air freight
2.The owner’s surrounding property
3.Escalation
4.Third party liability
5.Additional customs duty

What's Covered
This policy covers loss or damage to the contractor's property due to any cause that is accidental and external in nature. The cover is applicable when the insured’s property is at work or at rest or being dismantled for the purpose of cleaning/overhauling or during subsequent re-erection.

Period Of Cover
The cover will come into effect with the commencement of work or after the items entered in the schedule of the insurance policy have been unloaded at the site whichever is earlier.
The cover shall expire on the date specified in the policy.
However, our liability expires for parts of the insured’s contract, works taken over or put into service by the principal, prior to the expiry date specified in the policy, whichever is earlier.