Contractors’ Plant and Machinery Insurance - customer

Unforeseen and sudden physical loss or damage from any cause not specifically excluded and in a manner necessitating repair or replacement.  Cover applies whether the insured items are at work or at rest, or being dismantled for the purpose of cleaning or overhauling, or in the course of the operations themselves or in the course of subsequent re-erection, but in any case only after successful commissioning

Sum Insured

The sum insured should always be equal to the cost of replacement of the insured item by a new item of the same kind and capacity (cost of replacement should include freight charges, customs duties, cost of erection etc.)