Every Project need complete protection against potential loss. Especially the contractors Plant and Machineries used at Project sites are exposed to host of risks which can put a break in your Project implementation, causing financial burden and stress. SBI General Insurance can help you to successfully overcome these situations and put you firmly in control of your projects.
The Policy pays for unforeseen and sudden physical damage caused to the Contractors Plant and Machinery at the Insured location due to any perils other than those which are specifically excluded under the Policy.On payment of additional premium, the following among other coverage's can be optedExpressFreightAirFreightOwner's Surrounding PropertyClearance and removal of debrisAdditional Custom dutyEscalationThird Party LiabilityEquipment Mounted on Floating Vessel / CraftTerrorism
The Company will not be liable under the Policy in respect of loss or damage due to Excess stated in the ScheduleElectrical or mechanical breakdown, failure, breakage or derangementReplaceable parts and attachment such as bits, drills, knives or other cutting edges, saw blades, dies, moulds, parts which by their use / nature suffer a higher rate of wear or depreciation, objects made of glass, belts, ropes, wires, rubber tyres, operating media like lubricating fuels, catalystDamages due to explosion of any boiler or pressure vesselVehicles designed and licensed for general road useHull and machinery of water borne vessels or craftsDamage due to total or partial immersion in tidal wavesPublic liability while the plant and machinery are on public roadsWear and tear, corrosion ,rust, deterioration due to lack of useWater-borne vessels or craftsMachinery working underground other than Tunnel Boring MachinesAny contractual liability, manufacturer's guaranteeWhen undergoing a test of any kind War, war like operations and nuclear perilsPre existing fault or defect Wilful act or gross negligence of the Insured or his representativesDamage for which the manufacturer / supplier is responsibleConsequential loss of any kindLoss or damage discovered only at the time of taking an inventory or during routine servicing;