Contractors Plant & Machinery Insurance PolicyContractors Plant & Machinery Insurance Policy

Contractors Plant &
Machinery Insurance Policy

  • Introduction
  • What’s covered?
  • What’s Not covered?
  • Why Choose HDFC ERGO?

Introduction

The toughest job on any construction site is done by the tools and equipments. From hauling and moving materials to excavating earth and debris, generation of power round the clock – it’s all done by machinery. But, what happens when the heavy machinery breaks down?

HDFC ERGO’s Contractor’s Plant and Machinery Insurance is the hassle-free way to protect your investment and minimize repair costs.

 

What’s covered?

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Coverage

The policy broadly covers loss or damage to the contractor’s construction mobile equipment such as bulldozers, cranes, excavators, compressors, etc., due to an Accident arising out of external perils. Read More...

What's Not Covered?

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Electrical or mechanical breakdown does not get covered.

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Pre-existing defects does not get covered.

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Defective lubrication or lack of oil or coolant.

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Any sort of damage for which the manufacturer or supplier is responsible

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Any consequential loss

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Loss or damage to vehicles used for general road use, unless working on the specified construction site

Extensions

 
  • 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.

Sum Insured

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.

Excess

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.

Premium

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

Why HDFC ERGO?

Secured Over 1 Crore+ Smiles!

Trust redefines relations at HDFC ERGO. We consistently strive to make insurance easier, more affordable and more dependable. Here promises are kept, claims are fulfilled and lives are nurtured with utmost commitment.
Why HDFC ERGO?

All the support you need 24x7

We understand that in times of distress, instant help is the need of the hour. Our In-house claims team provides round the clock support to ensure hassle-free claim experience. We ensure to be your constant support system in times of need.
Why HDFC ERGO?

Catering customer needs

Since, last 16 years, we have been catering to endless customer requirements endlessly. By providing wide range of plans for every portfolio.
Why HDFC ERGO?

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.
Why HDFC ERGO?

Awards

We have received the ICAI Award of the Year and excellence in financial reporting for the year FY: 18-19.
Why HDFC ERGO?

Secured Over 1 Crore+ Smiles

Trust redefines relations at HDFC ERGO. We consistently strive to make insurance easier, more affordable and more dependable. Here promises are kept, claims are fulfilled and lives are nurtured with utmost commitment.

All the support you need-24x7

We understand that in times of distress, instant help is the need of the hour. Our In-house claims team provides round the clock support to ensure hassle-free claim experience. We ensure to be your constant support system in times of need.

Catering customer needs

Since, last 16 years, we have been catering to endless customer requirements endlessly. By providing wide range of plans for every portfolio.

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.

Awards

We have received the ICAI Award of the Year and excellence in financial reporting for the year FY:18-19.
Awards & Recognition
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