About Policy
On a construction site, it’s the equipment that has the toughest job. Hauling materials, excavating earth and debris, generating power almost round-the-clock….But even the most heavy-duty machines can be damaged causing heavy losses to an organization. BGIC’s Contractor’s Plant and Machinery Insurance is the hassle free way to protect the Insured’s investment and minimize repair costs.
Scope of Cover
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. The cover is operative while the insured property is at work or at rest, or being dismantled for the purpose of cleaning or overhauling, or during subsequent re-erection.
Main Extensions
- Earthquake.
- Escalation.
- Clearance and removal of debris.
- Damage to owner’s surrounding property.
- Third party liability.
- Express freight (excluding air freight), overtime and holiday rates of wages.
- Air freight.
- Additional customs duty.
