ENGINEERING
CONTRACTOR’S PLANT AND MACHINERY
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
The Policy does not cover
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. Pre-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.
Optional Extensions available to customer
Owner's surrounding policy
Clearance and removal of debris
Additional custom duty
Express Freight
Air Freight
Dismantling and shifting to a new location
Escalation Earthquake
CONTRACTOR’S PLANT AND MACHINERY
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
The Policy does not cover
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. Pre-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.
Optional Extensions available to customer
Owner's surrounding policy
Clearance and removal of debris
Additional custom duty
Express Freight
Air Freight
Dismantling and shifting to a new location
Escalation Earthquake