Askari offers a dedicated cover against loss or damage to Contractors’ Plant and Equipment while working at a specific work site or while at rest or during maintenance operations. This cover comes with the flexibility of ‘non-limitation’ to a particular work site and is designed to be on an ‘annual basis’.
RISK COVERED
Contractor Plant and machinery include the following Risk
Fire, Lightning and explosion
Theft and malicious damage
Impact, collision and overturning
Impact damage resulting from breakdown and road risk
KEY BENEFITS
It covers unforeseen and sudden physical loss of or damage to the insured items, necessitating their repair or replacement.
The cover, which excludes internal breakdown, applies at work, at rest or during maintenance operations
This policy also provides cover for inland transport with additional premium.
ELIGIBILITY
The owner of the machine
The contractor / user of the construction machinery
The financial institutes who have an interest in the construction machinery
EXTENSIONS
The policy can be extended to cover
Third party liability - personal injury and property damage.
Damage to owner's surrounding property.
DOCUMENTS/INFO REQUIRED
Proposal form dully filled, signed and stamped
Item wised breakup of construction machinery
