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The policy provides security for plant and machinery owned by contractors against sudden and unforeseen physical damage by any cause or peril.
About the Policy
The policy provides security for plant and machinery owned by contractors against sudden and unforeseen physical damage by any cause or peril.
Important details
Features
Coverage for plant and machinery owned by you against sudden & and unforeseen physical damage by any cause or peril which are not specifically excluded under the policy.
Exclusions
Loss or damage due to electrical or mechanical breakdown, failure, breakage or derangement, freezing of coolant or other fluid, defective lubrication or lack of oil or coolant.
Loss or damage to replaceable parts and attachment such as bits, drills, knives or other cutting edges, saw blades dies, molds, patterns etc.
Loss or damage to vehicles designed and licensed for general road use.
Loss or damage to hull and machinery of waterborne vessels or crafts, however this exclusion shall not apply to CPM mounted on waterborne vessels or crafts for the purpose of use for the contract work.
Loss or damage whilst in transit, from one location to another location.
Loss or damage to plants and/or machinery working underground.
Wear and tear, faults or defects existing at the time of commencement of insurance which ought to have been declared or were known to you.
