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"
|Advantage of Reliance Contractor’s Plant & Machinery Insurance Policy
Cover loss or damage to Insured plant & machinery or construction equipment because of an accident arising due to external perils like Fire, Accidental Damage, Riot, Burglary etc.
Plant & Machinery / Equipment are at work, being dismantled for overhauling or cleaning purposes, or are at rest covered
Selection of Equipment or Plant & Machinery are allowed
Covers current replacement value of Insured equipment or Plant & machinery
What 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
- Third Party Liability