Contractor’s Plant And Machinery

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 covered

Policy 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

  • Deductible
  • 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 optional

Choose optional add-ons at an additional cost to create cover that suits you.

  • Political Violence and Terrorism: Cover against political violence and terrorism

Goldstar claim process

No matter what your worry is, we’re here to help
explain the process, assess your claim fairly
and minimize the disruption to you with a transparent claims process.
Read More

How to make a claim

We have a number of options to help you make a 
claim quickly and effectively. Contact our dedicated claims team for advice on
an incident/claim.
Read more

Why choose us ?

Goldstar Insurance was IFM’s Best Insurance
Company in Uganda (2015) and has over
 the years consistently maintained a Global A+ Credit Rating
Read more

Other types of insurance cover

All Risks Insurance

The widest cover for properties against loss or damage caused by any accident or misfortune ………….

Read More

Buglary Insurance

Provides compensation when a property suffers loss caused by theft when accompanied by forcible breaking into.

Read More

Electronic Equipment Insurance

Cover your property against loss or damage caused by any accident or misfortune

Read More

2016 Global Business Outlook Award

Best insurance company in Uganda

2015 International Finance Magazine Award

Best insurance company in Uganda

A+ Global Credit Rating Co

Your expert local insurance partner

Easy Claim

Easy claim procedures with no hassle

Save Your Money

Host of discounts – No claim bonus, Discount for Automobile

Instant Online Policy

Host of discounts – No claim bonus, Discount for Automobile.

INSURANCE POLICY

FAQ's

How do I cover items that I take away from the home?
What is accidental damage cover?
Are items in my garage or shed covered?
I live in rental accommodation. Do I still need insurance?
What is an excess?

Tips

  • 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