Contractors’ Plant and Machinery Policy (CPM)

This policy covers construction plant and machinery while at the construction site.

  • What is insured:
    All construction equipment like Excavators, Bull Dozers, Pavers, Tippers, Cranes, Crushers, Batch Mixing Plants and the like, whilst work, or at rest or being dismantled and re-erected for the purpose of repairs or overhauling
  • Who can Insure:
    The owner, contractors, builders, financiers, bankers, mortgagees and the like whoever has a financial interest in the equipment/machinery.
  • What is covered:
    Loss or damage to the equipment/machinery caused by any accidental external and fortuitous events like fire, explosion, impact damage, rolling over/toppling/capsizing, fall from height, sliding, skidding and the like subject to any expressly excluded perils/losses
  • The equipment/machinery is covered whilst in any particular location. However, the machinery can be covered on anywhere in India basis subject to all locations being intimated with full details.
  • While transit from one place to another in the project site is covered, transit between one site and another site is not covered under this policy
  • Special features:
    The plant and machinery under this policy should be covered for current replacement value irrespective of the original invoice value and the age of the equipment/machinery