Contractors' Plant and Machinery Insurance

  18-05-2016


This insurance product is for investors or organizations undertaking construction projects... Our Contractors’ Plant and Machinery Insurance protects customers from loss or damage to its construction machinery or equipments such as cranes, road rollers, cement mixers ...

The Insured: investors, contractors, lessors of machinery and equipment, the lessee of machinery and equipment ...

Insured subjects: Machinery and equipment for construction/installation owned or hired by Contractors such as bulldozers, excavators, crushers, road rollers, cranes, equipment cranes, lifting equipment, pile driver, tamper ...

Coverage: LVI will compensate the Insured for loss or damage to the insured machinery caused by the followings:
- Acts from nature: floods, storms, hurricane, tsunami, lightning, subsidence, landslides, earthquakes, volcanic eruptions ...;
- Human activities (on site): fire, explosion, inexperience, carelessness, total loss due to theft ...;
- Other causes: falls, flip, drop, collisions and other sudden unexpected accidents during operation or movement in the construction site;
- Losses occur during its operation or shutting down, or being dismantled for the purpose of cleaning or overhauling, or in the course of the aforesaid operations themselves, or in the course of subsequent re-erection, but in any case only after successful commissioning.

In addition, the LVI also expands this insurance to cover for loss to machinery by accident happenning during its transportation from warehouse to construction site or in reverse direction after completion of the project.