There are different types of Construction Plant and Machinery that are usually put into operation at the construction or Erection site. The Plants, Equipment and Machinery are exposed to a number of risks that exist in addition to the exposure to natural calamities.
Contractor's Plant & Machinery insurance policy is designed to provide insurance protection for contractors and other business related to the construction industry.
It provides financial protection against damage to items whether they are being used or are at work site or at rest or during their maintenance operations.
- Policy covers Contractor’s Plant and Machinery against any unforeseen and sudden Physical loss or damage.
- Electrical or mechanical breakdowns except those specifically excluded under the terms of the Policy.
- Normal wear and tear
- Machinery breakdown
- Unexplained losses
- War, sabotage and terrorism.
Period of Insurance
The coverage is usually provided for a period of one year.
Basis of Sum Insured
New replacement value of the plant and equipment is to be covered.
A deductible for each and every loss under the policy is always applicable.
Basis of Claim Settlement
The indemnity under the policy is for replacement or repair of the damaged plant and equipment.
Premium rates are based on:
- Replacement value of Plant & machinery
- Type of Machinery
- Age of the machinery
- Maintenance history
- Use of the machine
- Professional experience of the assured
- Standard of the management
Please note that for the easy understanding of the insurance policy, we have highlighted the important aspects. We will be glad to receive your queries and discuss the full set of policy terms, conditions and exclusions.
For more information, please contact Nasco Gulf at +971 4 351 8610.
You must alert us of any accident that may lead to a claim covered under the policy, and our team of experts will assist you in the quick settlement of the claim.
Call us as soon as possible, in case of an accident, and our team of experts will guide you through the claim process. For more information, please contact Nasco Gulf at +971 4 351 8610