{"id":31906,"date":"2024-01-15T10:05:31","date_gmt":"2024-01-15T06:05:31","guid":{"rendered":"https:\/\/www.esanad.com\/sh\/?p=31906"},"modified":"2024-01-15T10:07:42","modified_gmt":"2024-01-15T06:07:42","slug":"contractors-plant-and-machinery","status":"publish","type":"post","link":"https:\/\/www.esanad.com\/sh\/terms-and-phrases\/contractors-plant-and-machinery","title":{"rendered":"Contractors Plant and Machinery"},"content":{"rendered":"\n
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What is Contractors\u2019 Plant and Machinery Insurance?<\/strong><\/p>\n\n\n\n

The policy is designed to cover contractors\u2019 plants and machinery working at construction sites like dumpers, excavators, rollers, drilling machines, etc. Given that a major part of a contractor\u2019s investment goes into the above-mentioned machinery, the policy protects the business from any probable damage to plant and machinery used by the contractors to complete a task.<\/p>\n\n\n\n

What does Contractors\u2019 Plant and Machinery Insurance Cover?<\/strong><\/p>\n\n\n\n

A Contractor\u2019s Plant and Machinery Insurance offers the coverage mentioned below:<\/p>\n\n\n\n

Loss\/damage to the contractors\u2019 construction equipment<\/strong><\/p>\n\n\n\n

The policy covers the expense incurred due to loss or damage of equipment used at the construction site because of accidents arising from perils like fire, riots, strikes, malicious damage, earthquake, flood, storm etc.<\/p>\n\n\n\n

Damage caused at work, rest or during Care<\/strong><\/p>\n\n\n\n

If the insured property gets damaged at work or rest or due to maintenance, the policy will cover it.<\/p>\n\n\n\n

What\u2019s not Covered?<\/strong><\/p>\n\n\n\n

eSanad\u2019s Contractor\u2019s Plant and Machinery insurance policy does not cover losses due to the following:<\/p>\n\n\n\n

Negligence<\/strong><\/p>\n\n\n\n

If the machinery gets damaged because of the insured\u2019s negligence or their representative, the policy will not cover the expenses.<\/p>\n\n\n\n

Terrorism<\/strong><\/p>\n\n\n\n

If the equipment incurs any damage due to an act of terrorism, it won\u2019t be covered.<\/p>\n\n\n\n

War and nuclear perils<\/strong><\/p>\n\n\n\n

Damage caused to pieces of equipment due to factors like war and atomic hazards will not be covered under the insurance policy.<\/p>\n\n\n\n

Lack of use and for undergoing test<\/strong><\/p>\n\n\n\n

Damage or deterioration of machinery due to lack of use and undergoing tests is not covered under the policy.<\/p>\n\n\n\n

Pre\u2013existing damages<\/strong><\/p>\n\n\n\n

Fault and damage to pieces of equipment\u2019s which were pre-existing before the purchase of the policy will not be covered.<\/p>\n\n\n\n

Mechanical or electrical breakdown<\/strong><\/p>\n\n\n\n

Failure of machinery due to electrical or mechanical breakdown is not covered under Contractor\u2019s Plant and Machinery insurance policy.<\/p>\n\n\n\n

An explosion of pressure vessel\/boiler<\/strong><\/p>\n\n\n\n

Any damage incurred by the equipment due to the explosion of a pressure vessel is not covered under the policy.<\/p>\n\n\n\n

Features of Contractor’s Plant and Machinery Insurance policy<\/strong><\/p>\n\n\n\n

Specific features of Contractor\u2019s Plant and machinery policy are below:<\/p>\n\n\n\n