Contractors Plant & Machinery Insurance | IFFCO Tokio General Insurance Company in India
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    Specially designed to protect the interest of civil contractors against the damage to or destruction of various civil engineering projects (like dwellings, office, hospitals, tunnels, cannels etc). 

    These projects includes accidental damage to civil Construction works, contractor's plants and machinery at the construction site and damage / defects during the subsequent period of maintenance for which the contractors is liable under the terms of the agreement between the contractors and the principle.

    Coverage Includes
    • Fire and Lightning
    • Accidental damage like defective workmanship and material, lack of skill, Negligence, Malicious act or Human error.
    • Water damage, Flood, Storm, Tempest, Inundation
    • Collapse, Collision, Impact.
    • Theft & Burglary
    • Subsidence, landslide, Rockslide.
    General Exclusions
    • Loss or damage due to War or Warlike operations, Civil Commotion etc.
    • Loss or damage due to Wilful act or Negligence of the Insured or of his representative
    • Loss or damage due to Nuclear reaction, Nuclear radiation or Radioactive contamination.
    • Loss discovered only at the time of taking an inventory.
    • Loss or damage due to normal wear and tear, Gradual deterioration due to atmospheric conditions or lack of use, Rust
    • Loss or damage due to faulty design.
    Period of Cover

    The cover attaches with the commencement of work or after the items entered in the schedule of the policy have been unloaded at the site, whichever is earlier and shall expire on the date specified in the policy. However, company's liability expires for parts of the insured contract works taken over or put into service by the Principal prior to the expiry date specified in the policy, whichever shall be earlier.

    Additional Covers
    • Clearance & removal of debris.
    • Construction Plant & machinery
    • Insured's own surrounding property
    • Escalation
    • Third Party Liability
    • Express freight
    • Airfreight
    • Extended maintenance
    • Additional custom duty
    • Earthquake
    • Terrorism Damage
    Premium Payments

    Premium can be collected in installments if the period of insurance is more than 12 months.

    Rating

    Rating depends on:

    • Type of Project
    • Period of Project
    • Sum Insured of project
    • Deductible Franchise
    • Location of Project
    • Extensions opted

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