
What does Contractor's Insurance Policy Cover?
Usual policies are designed for covering physical loss or damage to various insured plants & machinery used at construction project sites -
- Insured plant and machinery for any physical damage by any cause (unless specifically excluded)
- Complete cover on partial or total damage to equipment or machinery
- Insurance will be offered on current replacement value
- Policy can be bought only after successful commissioning of the machinery
- Cover for all insured items, whether at work, rest, or being dismantled for cleaning and overhauling
- Add on cover offered with the policy
- Owners surrounding policy
- Clearance and removal of debris
- Express freight
- Air freight
- Dismantling and shifting to a new location
- Escalation of Coast
- Earthquake
- Third party Liability