Is Contractor’s Plant and Machinery(CPM) policy valid only at one location? Or one policy can be bought for multiple locations? E.g. motor equipments, which can be moved to another locations.
Is Contractor’s Plant and Machinery(CPM) policy valid only at one location? Or one policy can be bought for multiple locations? E.g. motor equipments, which can be moved to another locations.
The CPM Insurance covers all types of Contractor's Plant Machinery and Equipments (including those governed by the Motor Vehicles Act or rateable under Motor Tariff) engaged for work at any specified location in India.
In respect of Machinery/ equipments, whether registered with RTO or not, but engaged at the Project site, the Insured, has an option either to select the Motor/Non-Motor Policy under Motor Tariff or CPM Policy in the Engineering Department.
Cover motor equipments under motor insurance and you can take them to different locations.
Yes, it covers plant and equipment at one site only. However it can be extend to cover owners surrounding property.