Contractors Plant & Machinery

Construction plant and machinery are usually used in construction or erection sites where these items are exposed to various risks which can cause loss or damages to them. These Machinery and Plants includes shovels, excavators, rollers and dumpers amongst others.

The “National Takaful Insurance Company’s contractors plant and machinery insurance policy covers these items when it suffers any unforeseen and sudden physical loss or damage from any cause not specifically excluded, and the cover will be active whether the items are at work or at rest, being dismantled for cleaning, in course of subsequent re-erection.

In this case, the company will compensate the contributor for immediate able losses by cash payment, replacement or repair.

The company shall not to be liable to indemnify the contributor in many cases of loss or damage due to:

– Electrical or Mechanical breakdown.
– Replaceable parts & attachments.
– Vehicles designed and licensed for general road use.
– Waterborne vessels or craft and total or partial immersion in tidal waters amongst others.

The sum insured should be equal to the cost of replacement of the items by new ones of the same kind and capacity, including cost of freight, customs, duties and cost of erection