These are policies designed to cover a wide range of risks specifically on Material Damage, Breakdown of the Machinery, related Consequential Loss as well as the legal liability exposure related to such equipment. Specifically the policy provides cover for:
- Provides cover for sudden and unforeseen physical loss, damage or destruction for owned or hired in mobile plant and equipment.
- The sudden and unexpected breakdown of a mechanical, electrical or electronic part of a Machine that prevents the normal use of the machine.
- Cover for Third Party or Property Damage arising from the use, operation or towing of a registered road vehicle or machine in connection with the business along with the legal liability for personal injury, property damage or advertising injury caused by an occurrence in connection with the declared business activities.
- Can be extended to cover loss of profits that occurs as a result of damage or breakdown damage (if this cover is taken) to a machine which causes an interruption to the business.
The Material Damage section can include
- Accidental overload for machines designed to lift.
- Dry hire after the insured declares activity. Includes theft by hirer.
- Cover for unspecified attachments which reduces chances of having no cover for undeclared items.
- Substitute machines cover for similar machines whilst insured item is undergoing repair or maintenance.
- Transit cover by road, rail and air
The Liability Section can include:
- Liability for either that particular machine or for all declared activities
- Cover for completed operations
- Registered vehicles when used as a tool of trade
- Hook Liability to a specific sub-limit
- Damage to underground services (with conditions)
- Dry Hire
- Hired out road vehicles – damage waivers
Why CPR Insurance Services?
CPR Insurance Services have a range of insurance solutions for Mobile Plant and Machinery whether owned or hired. CPR’s experience in all areas of engineering and construction risks gives you the advantage of fast and accurate advice, no-nonsense claim handling and experts who understand your needs and the nature of the risk exposure.
We have streamlined the whole insurance process so that arranging your cover, managing your claims and taking care of any other needs can be done quickly by phone or email.
Things to remember in Mobile Plant and Machinery Insurance Policies
These Policies generally contain an exclusion for liability assumed or recovery rights waived under contract or agreement, however some insurers will not apply this exclusion to Covered Contracts (which includes contract with Principals). These are contracts between you and your principal for the provision of work or service by you. Covered Contracts do not normally cover any hire agreement or other contract or agreement for the hire or lease of equipment, so make sure the policy is extended to include these where required.
Who can help?
An insurance broker’s role is to act as your representative and work in your interests, seeking the best cover at the best price for you from market knowledge. Call a good one.
Call CPR – Experts who will save you.