Contractor's Plant and Machinery (CPM) Insurance

Contractor's Plant and Machinery (CPM) is an insurance of contractors' plant and machinery that is done on an annual basis. It covers unforeseen and sudden physical loss of or damage to the insured items, necessitating their repair or re-placement.

Material Handling: Construction
Fork Lift Truck Bull Dozers and Road Rollers
Cranes Loaders and Dumpers
Chain Pulley Blocks Diving and Pile Driving Equipments
Conveyors Handling Equipments,
Site Power Generating Plants and Transformers Motors, Compressors and Pumps
Escalators and Mixing Plants

What is Covered?

  • Machinery/equipments covered for damage caused by all accidental and un-foreseen situations of external nature
  • Policy is on All Risks Basis subject to named exclusions
  • Cover is in force when the insured item is at work, at rest or being dismantled for cleaning, overhauling or during subsequent re-erection
  • Add- on Covers

  • Third Party Liability
  • Owners’ Surrounding property
  • Removal of debris
  • Inclusion of Express Freight, overhead charges, overtime wages, air freight charges

What is not covered?

  • Electrical or mechanical breakdown - but consequent external damage if any payable.
  • Replaceable parts such as bits, knives, ropes, belts, chains etc...
  • Transit from one location to another
  • Willful negligence
  • Loss observed during testing operation or when used for purpose other than designed for
  • Excess Stipulated
  • Consequential loss of any kind
  • War and like perils