Plant All Risks Insurance includes loss or damage caused by:
- Mechanical or electrical failure or over-heating of the insured plant
- Loss or damage to any item due to its own explosion
- Wear and tear
- Gradual deterioration
- War, civil war, mutiny or military insurrection
- Infidelity or dishonesty of the insured’s employees
- Consequential loss
There are different types of construction work insurance offered, which are
Contract Works Insurance
Contract Works Insurance provides cover for the property being worked on, i.e. the ‘works’. Contract Works cover are mainly that any damage that occurs to the ‘works’ being carried out can mean having to do the work twice for only one payment – for example if the extension catches fire or the roof blows off half way through the job.
Own Plant Insurance
An Own Plant insurance policy will include cover for any of your own plant, scaffolding, site huts or temporary buildings that are owned or hired by you.
Hired In Plant Insurance
If you hire in plant and equipment, it is likely that the owner of the equipment will hand over responsibility for any damage or theft to the machinery. By taking out Hired-in Plant Insurance, you will cover both the equipment and any liability you may have to the owner.
Tools are crucial to some businesses, particularly to those in the construction industry and to independent tradesmen. Protecting your tools with insurance means that you’ll have the peace of mind that they can be replaced with a minimum of disruption to your business activities. The level of tools insurance varies. It covers hand-tools, power-tools and equipment for loss, damage or theft.