Contractors Plant & Machinery Insurance Policy

● Express freight (excluding air freight), overtime and holiday rates of wages
● Air freight
● Owner’s surrounding property
● Clearance and removal of debris
● Additional customs duty
● Escalation
● Third party Liability
● Act of terrorism
● Earthquake.

The Sum Insured shall be equal to the cost of replacement of the insured property by new property of the same kind and same capacity, which shall mean its replacement cost, including freight, dues and customs duties, if any, and erection costs.

The excesses under CPM policy depend on the Sum Insured of the individual machine, the type of machine and whether the claim is due to an Act of God peril or otherwise.

The premium depends on the type of equipment, risk, location(s) and use of the equipment.