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
