Contractors' Plant and Machinery Insurance

Contractors' Plant & Machinery Insurance

It is a plan which covers mobile equipments that are not licensed for road use. This includes:

• Forklifts
• Excavators
• Mobile cranes
• Tractors
• Other self-propelled vehicles
• Static heavy equipment

Here is an overview of your coverage.

Covers loss of or damage to:

• Equipment
• Standard accessories
• Parts in hand due to:

o   Accidental collision, overturning and collision, or overturning  resulting  from mechanical derangement

o   Fire, external explosion, self-ignition or lightning

o   Burglary, housebreaking or theft

Your premium may vary, depending on:

1. Sum Insured
2. Type of contractor plant, year of manufacture, brand, capacity, etc
3. Maintenance program
4. Extended coverage and special clauses
5. Location
6. Other factors

Your premium may vary, depending on:

The deductible stated in the Schedule to be borne by the Insured in any one occurrence; if more than one item is lost or damaged in one occurrence, the Insured shall not bear more than the highest single deductible applicable to such items.

 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
• An accident causing external damage occurs as a consequence of such breakdown or derangement,  consequential damage shall be indemnifiable

Loss or damage to replaceable:

• Parts, drills and attachments such as bit saw knives or other cutting edges, patterns, moulds, dies and blades
• Pulverizing and crushing surfaces
• Chains, belts, ropes
• Screens and sieves
• Batteries
• Elevators and conveyor bands, connecting wires and cables
• Tyres jointing and packing
• Flexible pipes
• Materials regularly replaced

Loss or damage due to explosions of any boiler or pressure vessel subject to internal steam or fluid pressure or any internal combustion engine.

Loss or damage due to  total or partial immersion in tidal waters.

Loss or damage whilst in transit, unless otherwise agreed by endorsement.

Loss or damage as a direct consequence of the continual influence of operation (e.g. wear and tear, corrosion, rust, deterioration due to lack of use and normal atmospheric conditions).

Loss of or damage to plant and/or machinery working underground, unless otherwise agreed by endorsement.

Loss of or damage to vehicles designed and licensed for general road use,  unless these vehicles are exclusively used on construction sites.

Loss or damage to waterborne vessels or craft.

Loss or damage occurring whilst any insured item is undergoing a test of any kind or is being used in any manner or for any purpose other than what is it designed for.

Continued consequential loss from an unused property or legal liability to third parties, due to any cause.

Loss or damage discovered only at the time of taking an inventory or during routine servicing.

Loss or damage to the manufacturer or its suppliers, liable for insured property laws.

Damages due directly or indirectly by:

• War, invasion, acts of foreign enemies to fight an opponent (whether war is declared or not), civil war, revolution, rebellion, mutiny, riot, strike
• Closure by employers
• Civil uprising, military use or usurpation
• Deliberate action against any individual or group of individuals associated with a political group’s forfeiture or seizure of threshold or stores destroyed by the military government, authority or officialsDamages due directly or indirectly to nuclear reactions, radiation or radioactive contamination

Damages due to any pre-existing fault or defect that you were aware of before coverage commenced.

Damages due directly or indirectly to any act with intent, or gross negligence of the insured or the representative of the insured.