Contractors Plant & Machinery Policy
Comprehensive Protection for Your Construction Equipment
Heavy machinery and earth-moving equipment are essential in construction projects, handling tasks like excavation, material transport, and power generation. However, these machines are vulnerable to accidental damage and breakdowns. A Contractors Plant and Machinery Policy ensures financial protection against unforeseen losses, keeping your operations running smoothly.
Key Benefits
- Accidental damage cover for machinery
- Breakdown coverage for repairs or replacement
- Protection against fire and natural disasters
- Third-party liability coverage
- Customizable plans tailored to your needs
Health Cover Up
to ₹50 Lacs
What is Contractors Plant & Machinery Policy?
A Contractors Plant & Machinery Policy provides essential coverage for heavy machinery and equipment used in construction projects. It protects against accidental damage, breakdowns, and other unforeseen circumstances that could disrupt operations. This policy ensures that your business is safeguarded from financial losses related to machinery repairs, replacements, and liabilities
Why do you need Contractors Plant & Machinery Policy?
Minimize Risk of Equipment Failures
Protects your machinery from unexpected breakdowns and repair costs.
Accidental Damage Protection
Safeguards your business from financial loss due to accidental damage.
Prevent Project Delays
Ensures your construction projects stay on track without costly delays.
Third-Party Liability Coverage
Covers any damage your machinery may cause to third-party property or individuals.
Why choose Insurance Manager to protect your business?
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
What does Contractors Plant & Machinery Policy cover and exclude?
Plan Coverage
Accidental Damage to Equipment
Protection against unexpected sudden and unforeseen damage to machinery.
Loss During Work or Rest
Coverage applies whether the equipment is in use, idle, or undergoing maintenance.
Damage During Dismantling and Re-assembly
Safeguards machinery while being cleaned, overhauled, or reassembled.
Protection Against External Perils
Covers risks arising from external factors like accidents or natural disasters.
Theft or Vandalism
Provides coverage in case of theft or intentional damage to machinery.
Fire and Explosion
Covers unexpected loss or damage due to fire, explosion, or other similar hazards.
Natural Disasters
Protection against damage from natural events like floods or storms.
Third-Party Liability
Covers damage caused to third-party property by the insured machinery.
- In-patient treatment 24 hours a day
- Pre-existing disease
- Pre and Post hospitalization
- Domiciliary hospitalization expenses
- Reimbursement of cost of health check-up
- All day care procedure
- Family floater to covers member’s immediate family such as a spouse, dependent children, dependent parents, etc.
- Maternity benefits
- Dental treatment
- Cost of spectacles, contact lenses
- Waiver of waiting period
- Waiver of first-year exclusions
- Reimbursement of ambulance costs
- Baby day one care
- Vaccination benefits
- Increased room rent limits
- Corporate buffer
- Out-patient treatment (OPD Card)
- Root canal surgery
- In-hospitalization expenses due to sickness or accidents
- Room and boarding expenses as provided by the hospital/nursing home.
- Nursing expenses.
- Surgeon, anesthetist, medical practitioner, consultants or specialist fees.
- Anesthesia, blood, oxygen, operation theatre charges, surgical appliances, medicines and drugs, diagnostic materials and X-Ray, dialysis or chemotherapy.
Major Exclusions
Electrical or Mechanical Breakdown
Excludes coverage for damages resulting from equipment malfunctions.
Pre-existing Defects
Does not cover losses caused by defects present before policy inception.
Defective Lubrication or Insufficient Oil
Does not cover damages due to poor maintenance or lack of essential fluids.
Manufacturer or Supplier Responsibility
Excludes losses for which the equipment manufacturer or supplier is liable.
Consequential Loss
Does not cover indirect or follow-up damages arising from an incident.
Vehicles Used for General Road Use
Excludes coverage for vehicles not specifically used on construction sites.
Wear and Tear
Does not cover the gradual natural depreciation, normal wear and tear, or aging of machinery.
Damage During Transport (if not on-site)
Excludes coverage for transportation damages unless on the construction site.
- If the appropriate waiver is not opted for, then the policy will not cover
- Treatment of pre-existing illnesses.
- Any treatment for illnesses/diseases within the first 30 days of the policy, unless it is an accident.
- Treatment of specified illnesses for the first year of the policy.
- Certain diseases like hernia, cataract, piles, sinusitis, etc are excluded during the first year of operation in the cover.
- Any claim arising out of or traceable to pregnancy.
- Ayurvedic, homeopathy, naturopathy or any other form of local medication.
- Alcoholism, drug abuse, and AIDS.
- Dental treatment or surgery unless it requires hospitalization.
- Cost of spectacles.
- Vaccination and inoculation.
- Cosmetic treatment.
Your Journey to Insurance Manager
When can I Claim?
A claim under Contractors Plant & Machinery Policy can be registered in the below circumstances:
- Accidental Damage – When machinery suffers unexpected physical damage
- Fire or Explosion – If equipment is damaged due to fire, explosion, or similar hazards.
- Theft or Burglary – In case of loss due to theft or forced entry.
Claim what’s yours with Insurance Manager
Have more questions?
Submission
Assessment
