The construction business, responsible for constructing buildings, roads, factories and bridges, is what drives an economy forward. Those in this business make use of heavy machinery and equipment to undertake a multitude of construction jobs. If anything was to happen to this equipment and machinery, the work would suffer, causing inconvenience all around. The Contractor’s Plant and Machinery Insurance provides cover for such associated exigencies.
The Contractor’s Plant and Machinery Policy covers all your primarily movable plant equipment and machinery against damage or loss in case of an accident. Machines such as bulldozers, cranes, and excavators etc. come under the policy and are offered repair or replacement in case of damage, so one can resume work as soon as possible.
The sum insured under the policy shall be equal to the replacement cost of each item damaged, considering the replacement is done by a new item of the same kind, size and capacity. It should also include the freight costs, cost of erection, customs duty and any other charges involved.
The premium to be paid for the policy may differ in each case, depending on several factors such as the type of equipment, location(s), risk involved and the use of equipment.
Anyone who owns movable construction machinery or is a contractor, bank or financial institution with interest in such machinery, can make use of this policy.
To know more about the eligibility, inclusions and exclusions, please read the policy wordings.
Contractor, Principal or Sub Contractor having movable plant and machinery at various construction work, repairs & maintenance jobs or even regular site work.
Construction mobile equipment such as bulldozers, cranes, excavators, compressors etc.
Policy covers unforeseen and sudden physical damage caused to the Contractors Plant and Machinery at the Insured location due to any perils other than those which are specifically excluded under the Product.
The contents of your newsletter are quite interesting and informative.
This will help in creating awareness in the industry about the loss prevention and good maintenance.
Thanks for the good work you are doing.
The Client has highly appreciated the inputs and report from Mr. Sudhanshu.
Its because of him we were able to convince the client to move to Liberty along with local sales support.
We find the report is very exhaustive in bringing out the risk exposures and the works the client has to carry out for risk elimination. Surely the client will be benefited by the suggestions you have put forth.
The contents of your newsletter are quite interesting and informative.
This will help in creating awareness in the industry about the loss prevention and good maintenance.
Thanks for the good work you are doing.
Liberty Mutual Insurance Group Announces
New Joint Venture Partnership for Indian
Company
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