Contractors Plant And Machinery Insurance Policy

​​​​​Plants and Machinery like, fork lift trucks, compressors, bulldozers, drilling machines, etc, account for a major part of a contractor's investment. There are various risks associated with damage to these vital plant & machinery’s due to all the toughest work on any project site is done by these plants & machineries. Get Reliance Contractor's Plant and Machinery Insurance Pol​​icy to protect your business from any probable loss of damage or repair and replacement costs of plant & machinery.​

Advantage of Reliance Contractor’s Plant & Machinery Insurance Policy

At any type of construction project, contractor is highly depended on the plant & machinery for work. Damage or physical loss to these plant & machinery can lead to huge loss since these plant & machinery required high amount of investment.

Insurance of these plant & machinery keep the contractor’s relaxed as his/her plant & machinery is protecting against the damage or physical loss. Following are the some of the advantages of "Reliance Contractor’s Plant & Machinery Insurance Policy"​​

​Wh​at does this policy cover?

This Policy is design for covering physical loss or damage to various insured plant & machinery used at project site.

• This policy provides cover for the: -Insured plant and machinery for any physical damage by any cause (unless specifically excluded)
• Complete cover on partial or total damage to equipment or machinery
• Insurance will be offered on current replacement value
• Policy can be bought only after successful commissioning of the machinery
• ​Cover for all insured items, whether at work, rest, or being dismantled for cleaning and overhauling​

Add on cover offered with the policy-

• Owners surrounding policy
• Clearance and removal of debris
• Additional customs duty
• Express freight
• Air freight
• Dismantling and shifting to a new location
• Escalation of cost
• Earthquake
• Third Party Liability
• Terrorism

What does the policy not cover?

• The excess as stated in the schedule
• Loss or damage due to electrical or mechanical breakdown/failure
• Pre-existing faults & damages
• Loss of or damage to replaceable parts such as bits, drills, knives or other cutting edges, saw blades, dies, moulds etc.
• Loss or damage due to explosion of any boiler or pressure vessel subject to internal steam or fluid pressure or of any internal combustion engine
• Loss/damage to insured plant and machinery due to:
  • War and nuclear perils
  • Willful act/negligence of the insured
  • Contractual liability, manufacturers guarantee
  • Consequential loss or liability of any kind or description
• Damage due to terrorism risk
• Damage for which the supplier or manufacturer is responsible​
• ​Any kind of Transit Risk

Disclaimer: For complete list of add on coverage details and exclusion please refer policy wording of Reliance Contractor’s Plant & Machinery Insurance Policy.