An Overview Of Common Policy Coverage
Sudden and unexpected physical damage or destruction of a machine.
Third Party Road Risk Liability
Legal Liability for Personal Injury and/or property damage of a registered vehicle. This can also extend to road vehicles with temporary road permits, if agreed with insurer.
Public & Products Liability
Legal Liability for Personal Injury or Property Damage caused by an occurrence in connection with the insured. (Note: Some insurers provide limited cover for Public (General) Liability only.
Care, Custody & Control (Hook) Liability
Legal Liability for property damage or destruction to third party property in your physical possession or legal control.
Loss of income cover as a result of damage to a Machine which subsequentially causes an interruption to the business and income (does not include substitute hire costs).
Hired In Plant
Liability to hirer arising from damage to a machine that has been hired in for the purpose of use in accordance with their business activities.
Cover the reasonable costs to repair the machine to its condition prior to the breakdown (excludes wear and tear, lack of maintenance claims).
Other Policy Feature
You also should consider the policy features and benefits, as these vary from insurer to insurer and some are not automatically covered and/or have a sub-limit.
- Accessories/ Tools
- Expediting Costs
- Recovery Costs
- Indemnity Hirer
- Multiple Crane Operation (Multi-lifting)
- Appreciation in value of Machinery
- Additions/Deletions of Machines
- Owners Protections
- Unintentional Non-Deliberate Overload
- Windscreen Replacement
- Dry Hire
- Substitute Hire Costs
- Damage Waiver (Hired Out Plant)
- Wet Hire / Dry Hire Extensions
- Finance Protection
- Underground Risk Limitations / Exclusions