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Reliance Contractors Plant and Machinery Insurance Policy

Benefits

Reliance Contractors Plant and Machinery Policy

​Plants and equipments like fork lift trucks, compressors, bulldozers, pile driving devices, drilling machines etc account for a major part of a building contractor's investment. There are various risks associated with damage to this vital equipment. Avail Reliance Contractor's Plant and Machinery Insurance Policy to protect your business from any probable loss of your investment or repair and replacement costs. ​

What does Contractors Plant and Machinery Insurance cover​?

  • Complete cover on partial or total damage to equipment or machinery
  • Insurance will be offered on current replacement value
  • This policy provides cover for the:
  • Insured plant and machinery for any physical damage by any cause (unless specifically excluded)
  • 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

You can also choose some optional covers for an extra premium:

  • 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
  • For any one accident
  • For all accidents during the period

This policy does not cover:

  • The Excess as stated in the Schedule
  • Loss or damage due to electrical or mechanical breakdown/failure
  • 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
    1. Loss/damage to insured plant and machinery due to:
    2. War and nuclear perils
    3. Willful act/negligence of the insured
    4. Contractual liability, manufacturers guarantee
    5. Consequential loss or liability of any kind or description