About the Service
Construction plant and equipment insurance covers physical loss of or damage to construction machinery and equipment owned, operated or leased by the insured and/or its contractor.
Purpose of Cover
- To protect the financial interests of the insured and/or its contractor against the risk of loss of or damage to construction machinery used in construction and installation works
Insured Events
- Physical loss of or damage to insured construction plant and machinery
Scope of Indemnity
Includes, but is not limited to:- The cost of replacing lost or destroyed construction machinery with an equivalent item, with indemnity calculated on the basis of its full replacement value
- The cost of repairing damage and/or restoring the damaged part of the insured item
