Civil construction plant

Construction Plant and Machinery


CPM insurance covers machinery such as bulldozers.CPM insurance covers machinery such as bulldozers.

Images

Damage or loss of expensive machinery could be a catastrophe for a small construction contracting business because these machines represent such a large investment. Contractor plant and machinery insurance protects your business from these losses. Understand the options and limitations of this type of insurance to determine whether your business needs to be covered.

Coverage

CPM insurance covers all physical damage done to a contractor’s machinery that is not specifically excluded by the policy. This includes accidents not due to gross negligence and acts of God, such as falling trees or storm damage. The payments cover the cost to repair or replace the affected machinery, which is covered at work or rest, while on any job site owned by a third party and even when dismantled or reassembled for maintenance.

Extensions

Many CPM insurance policies offer optional extensions to cover additional costs your business may face in the event of an accident. These include damage to the owner’s surrounding property, air or express freight for replacement equipment, and removal of debris. Discuss which options you may need, and that are available, with your insurance provider.

Limitations

CPM insurance does not cover many items such as electrical or mechanical breakdown, gross negligence, boiler explosions, pre-existing defects or any damage for which the manufacturer is responsible, nor does it cover vehicles damaged on public-use roads. Check your policy carefully for other exclusions. Any of these represents significant potential losses in terms of repair costs and loss of productivity. Pre-existing defects may be covered by manufacturer warranties; otherwise, to be protected from these risks requires separate types of insurance.

Price and Extension Factors

The premium for CPM insurance depends on the types of machines you insure, the locations you use them in, risks and any extensions you choose. In addition to price, carefully review the exclusions of any policy, as these can vary from policy to policy. Consider whether you need any extensions by thinking through what you would go through to repair or replace a machine. If your machines are shipped from a great distance, for example, you might need the freight extension, whereas if you obtain them locally, you wouldn’t.



Share this article





Related Posts


Eagle West Truck and Crane
Eagle West Truck and Crane

Latest Posts
Asphalt manufacturing Process
Asphalt manufacturing…
Background Roofing shingles are made…
Used Snow Plows Maine
Used Snow Plows…
Snow just won’t fall exactly where we…
How to operate a Reach Truck?
How to operate…
The RTITB Reach Truck Operator training…
Wheel Loader Wiki
Wheel Loader…
DD-40 Heavy Duty Class Wheel Loader Machine…
Asphalt Paving Training
Asphalt Paving…
Caterpillar Paving Products is dedicated…
Search
Featured posts
  • Plant and Machinery in Construction
  • Construction equipment and Machinery
  • Eagle West Truck and Crane
  • Snow and Ice Removal equipment
  • Machine construction
  • Construction Machinery names
  • Machineries for Construction
  • List of Construction Machinery
  • Used Construction Machinery in USA
Copyright © 2017 l www.mtnvalleyequip.com. All rights reserved.