Contractor’s plant and machinery insurance

The target market of contractor’s plant and machinery insurance comprises companies and self-employed persons entered in the Estonian Commercial Register who own and/or use self-propelled, towable or attachable machinery and their accessories.

Contractor’s plant and machinery insurance covers vehicles and machines that are used for:

• construction work (cranes, road construction vehicles, earthmoving machinery, lifting equipment, etc.);
• agriculture (combine harvesters, tractors, mowers, seeders, etc.);
• forestry (harvesters, forwarders, timber trailers, etc.).

Contractor’s plant and machinery insurance is essentially all-risk insurance, i.e. insured events are any and all unexpected and unforeseeable events that have not been precluded in the terms and conditions.

• The most common causes for damage in case of contractor’s plant and machinery insurance are:

  • negligence of the operator of the vehicle or machine
  • fire, including soot, smoke, lightning, etc.
  • natural disasters, including storms, flooding, landslide, cave-in, etc.
  • vandalism
  • theft

• Upon an insured event, we will indemnify the following as regards the insured object:

  • restoration or repurchasing expenses
  • additional justified expenses that are required for making the object operational:
    • travel and accommodation expenses of the representatives of the manufacturer, importer or reseller performing repairs
    • rescue and recovery expenses (including expenses on cleaning)
    • expenses for the disposal of a damaged object from the scene of accident
    • disassembly and assembly expenses
    • expenses for transporting the object to the repair shop and back
  • Additional expenses in relation to eliminating the consequences of an insured event will be indemnified to the extent of 10% of the sum insured and no more than €10,000.