WHAT IS CONTRACTOR'S PLANT & MACHINERY (CPM)
Contractor Plant and Machinery insurance protects your business from damage to or loss of expensive machinery as these machines represent a large investment.
COVERAGE
CPM insurance covers all physical damage to a contractor’s machinery that is not specifically excluded by the policy. This includes accidents not due to gross negligence and acts of God, such as falling trees or storm damage.
LIMITATIONS
CPM insurance does not cover:
- Electrical or mechanical breakdown,
- Gross negligence
- Boiler explosions
- pre-existing defects or any damage for which the manufacturer is responsible
- vehicles damaged on public-use roads
