CONTRACTORS PLANT & MACHINERY
Provides cover against unforeseen and sudden physical loss or damage from any cause not specifically excluded in a manner necessitating repair or replacement. The policy will indemnify the Insured in respect of such loss or damage by payment in cash, replacement or repair.
Features & Benefits
- This Policy shall apply whether the insured items are at work or at rest, or being dismantled for the purpose of cleaning or overhauling, or in the course of the aforesaid operations themselves, or in the course of subsequent re-erection, but in any case only after successful commissioning.
- In case of repairs, no deduction shall be made for depreciation in respect of parts replaced, but the value of any salvage shall be taken into account.