Contractor's Plant and Machinery Policy

The Policy covers

This is an All Risk policy covering sudden and unforeseen physical damage to machinery insured by any cause or peril not specifically excluded under the policy

Basis of Sum Insured

Current replacement value of the machinery / equipment

1. Vehicles without identification number / individual sum insured
2. Transit risks from site to site
3. Machinery breakdown risks, Abandonment
4. Freezing of coolant or other fluids, defective lubrication, Replaceable parts
5. Explosion due to steam pressure in I.C engine
6. Vehicles plying on public roads and liability arising thereof
7. Hull and machinery of water borne vessels / crafts and Pay loaders on barges
8. Total and partial immersion in tidal waters
9. Wear and tear, rusting, Testing for other purposes, War and Nuclear perils
10. Pe-existing defects at inception
11. Willful act/negligence of insured, Consequential loss / liability , Inventory loss
12. Cost of preparing drawings / patterns / core boxes
13. Cost of alteration, improvement, overhauls, modifications, additions, material changes. Breakage / abrasion of wire or stands of rope / slings of a crane

1. Owner's surrounding policy
2. Clearance and removal of debris
3. Additional custom duty
4. Express Freight
5. Air Freight
6. Dismantling and shifting to a new location
7. Escalation Earthquake