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 replacement.
The items (or any part thereof) entered in the schedule, whilst at the location or in the geographical area mentioned therein, suffer any unforeseen and sudden physical loss or damage from any cause not specifically excluded in a manner necessitating repair or replacement. Sum Insured should always be new replacement value
What’s coveredPolicy applies whether the insured items are;
- At work or at rest
- Being dismantled for cleaning or overhauling
- Or whilst being cleaned or overhauled
- Subsequent re-erection
But only after successful commissioning.
What’s not covered
- Mechanical and/or electrical breakdown or derangement of construction machinery, plant and equipment (i.e. loss or damage not caused by exterior influences) but if as a consequence of such breakdown or derangement an accident occurs causing external damage, such consequential damage shall be indemnifiable.
- Loss or damage to replaceable parts and attachments eg. Cutting edges, ropes, belts, tyres, etc.
- Working underground (unless agreed by endorsement)
- War, invasion, rebellion, revolution, riot, strike, etc
- Nuclear risks
- Faults / defects existing at Policy commencement within knowledge of Insured
- Wilful act or wilful negligence of the Insured or his representatives
- For which supplier or manufacturer is responsible
- Consequential loss or liability of any kind discovered only at taking of inventory or routine servicing
What’s optionalChoose optional add-ons at an additional cost to create cover that suits you.
- Political Violence and Terrorism: Cover against political violence and terrorism
Other types of insurance cover
You will need contents insurance, sometimes known as all risk cover, for items for which you require cover out with the home. Please provide details of these items at the time of quotation to ensure that the policy provided meets with your requirements.
Accidental Damage cover provides protection against costs incurred through damage that you, your family members or visitors may cause to the structure of your Building or to your Contents. Examples of incidents which would be covered under this extension include putting your foot through the loft floor damaging the ceiling below, leaving a tap running leading to water damage or carpet spillages. Such incidents would not be included under a policy taken out to cover Standard Perils only.
Additional charges will apply and in certain circumstances this cover might not be available.
Items kept in the garage or garden sheds will be covered under the Contents section of your policy provided you have included their value in the total sum insured declared. Limits may apply to the amount that can be claimed for theft of items taken from outbuildings and additional charges may be made for certain items such as ride on mowers. Cover for motor vehicles and motorcycles is excluded. Please declare your requirements for cover kept in outbuildings at the time of quotation to ensure that the policy provided meets with your requirements.
In most cases you will need to arrange cover for your own contents and personal possessions. Please refer to your tenancy agreement to check what, if any cover is provided by your landlord.
An excess is the amount a policyholder is required to pay towards the cost of any claim. You may be asked to pay this amount to a company that has carried out repairs on behalf of your insurer, or alternatively the sum will be deducted from any settlement received.
- Ensure you declare a list of items to be insured under contents insurance including serial numbers, model, make and have the correct sum insured
- Always keep valuables safely and locked out of site to protect against the risk of theft