Asset Insurance Contractor Plant & Machinary Ins Electronic equipment Insurance

Asset Insurance is designed to protect businesses, contractors, and industries from financial losses due to damage, theft, or breakdown of valuable assets like plant machinery, electronic equipment, and construction tools. Whether you own a business, operate heavy machinery, or rely on high-end electronics, asset insurance ensures uninterrupted operations and financial security.

Types of Asset Insurance

1️⃣ Contractor’s Plant & Machinery (CPM) Insurance 🚜🏗️

This policy protects construction equipment and heavy machinery from accidental damage, theft, and breakdowns.

✔ Covers excavators, bulldozers, cranes, forklifts, and road rollers
✔ Protection against accidental, fire, or natural disaster damage
✔ Covers transit and on-site risks
✔ Ideal for contractors, builders, and infrastructure companies

✅ What is Covered?

📍 Physical Damage to Machinery – Accidental damage, fire, or mechanical breakdown.
📍 Natural Disasters – Earthquake, floods, storms, landslides, etc.
📍 Fire & Explosions – Protection from unexpected fire hazards.
📍 Transit Coverage – Covers damage during transportation.

❌ What is NOT Covered?

❌ Wear and tear or aging of machinery
❌ Damage due to war, nuclear risks, or terrorism (unless add-on cover taken)
❌ Pre-existing faults in machinery
❌ Intentional damage or negligence

2️⃣ Electronic Equipment Insurance (EEI) 💻📡

This policy provides financial protection against accidental loss, breakdown, or damage to high-value electronic equipment like computers, medical devices, and data centers.

✔ Covers computers, servers, printers, and medical diagnostic machines
✔ Protection from voltage fluctuations, fire, theft, or accidental damage
✔ Includes data loss recovery coverage
✔ Ideal for IT companies, hospitals, and businesses relying on electronics

✅ What is Covered?

📍 Physical Damage – Protection against fire, explosions, and water damage.
📍 Short Circuits & Electrical Issues – Covers damage due to voltage fluctuations.
📍 Theft & Burglary – Financial protection against stolen equipment.
📍 Data Loss Coverage – Covers restoration of lost critical business data.

❌ What is NOT Covered?

❌ Normal wear and tear
❌ Manufacturing defects
❌ Theft due to negligence
❌ Pre-existing damages

Why Choose Asset Insurance?

✔ Safeguards Expensive Equipment – Ensures financial protection for businesses.
✔ Prevents Downtime – Quick repairs or replacements reduce operational disruptions.
✔ Covers Fire, Theft & Accidents – Ensures peace of mind for industries and businesses.
✔ Essential for Contractors, IT Firms & Factories – Ideal for industries using heavy machinery or advanced electronics.

How to Buy Asset Insurance?

1️⃣ Assess the value of machinery & equipment
2️⃣ Compare policies from different insurers
3️⃣ Choose coverage options & add-ons
4️⃣ Submit necessary documents & pay the premium
5️⃣ Renew your policy before expiration

Conclusion

Asset Insurance is a must-have for businesses, contractors, and industries using expensive machinery and electronic equipment. It ensures uninterrupted operations, financial security, and business continuity in case of unforeseen accidents or losses. Protect your assets today and stay financially secure!