About Contractors Plant

Before delving into the intricacies of Contractors Plant Insurance (CPI) it is vital to be aware of several points.

Traditionally contractors plant and machinery has been written by nearly all general insurers to varying extents, under either motor vehicle (registered units) or engineering (unregistered units) policies.  What we have done, as specialists in CPI, is recognize that these traditional methods were insufficient.  The following four points indicate the variables which were simply not catered for by using simple motor vehicle or engineering policies.

We must remember that what we need in addition to just motor insurance is coverage for wide diversity of activities and business activities of both the machines and the business.  Inward and outward contractual obligations also play a major part in contractors requirements.

Plant Benefits

We believe that this policy, combined with the flexibility and security afforded by our
quality Australian underwriter, places us well and truly to the forefront as a CPI specialist.

Some of our “standard” inclusions and/or benefits are:

Material Damage:
           - Accessories, Tools and Spare Parts (as distinct from attachments) 
           - Recovery Expenses (when no loss)
           - Expediting Expenses
           - Windscreen Replacement free of excess
           - Dry Hire (provided conditions in place making hirer responsible)
Road Risk TPPD:
           - Supplementary Bodily Injury (SBI) - where required
           - Cross Liability
           - Loss of Use of Undamaged Property
           - Movement of Other Machines
           - Towing Disabled Machines
           - Trailers
Both Sections:
           - Hold Harmless
           - Automatic Inclusions (to $250,000)
           - LPG Conversion
           - Other Interested Parties
           - “Innocent Breach” rider to drug/drink exclusion
           - “Innocent Breach” rider to incorrect use exclusion  

While some of the above-mentioned standard extensions are covered by our competitors
many are optional extras, or simply not available, under other policies.

Optional Extensions
The list shown below is our expanded range of Optional Extensions, with our in-built flexibility also allowing us to consider other variations which may be required for specialist operations or plant items. These are only a short description.  For further information, please click the name of the option.

UNO	Unintentional/Non-Deliberate Overload
SHC	Substitute Hire Costs
ML	Multi Lift- lift shared by 2 or more lifting machines
FGP	Finance Gap Payout - gap between market value and finance payout figure
AV	Agreed Value - subject to valuation
AMV	Appreciation in Machine Value
EDH	Extended Dry Hire - Extends cover to dry hirer and allows Insured to recover insurance costs from hirers without breaching Insurance Acts, Stamp Duty or Trade Practice regulations as may be the case under many existing policies and hire conditions.
OHC	Ongoing Hire Costs - Hire Costs incurred while damaged hired in/out machine is being repaired/replaced. (This is often taken in conjunction with EDH.)
FPP	Finance Payment Protection - regular finance installments paid while damaged    machine is being repaired or replaced as a result of a claim
UR	Underground Risk - in certain situations policy can be extended

         Covers Offered by CEMAC

The usual basis for CPI coverage under the CEMAC facility is a three part package. 

1.	Material Damage – Broadform engineering based wording covering loss or damage to the insured plant including a range of standard additional benefits – many not found in motor policies.
2.	Third Party Property Damage (TPPD Road Risk) – TPPD with standard limit of $20,000,000 excluding tool of trade.  (Covered under same policy as Material Damage) – also with a wide range of additional benefits.