Construction Machinery and Equipment Insurance

Insured under this insurance are owners and lessees of construction machinery and equipment.

The subject of the insurance is any type of construction machinery and equipment used by the Insured person in connection with its activity, which have successfully passed acceptance tests and are in normal operation.

The insurance is concluded on the basis of a written application-questionnaire by the insured and an inventory of the machinery and equipment offered for insurance.

Coverage under this insurance includes any sudden and unforeseeable total loss or partial damage from any cause, except as specifically described.

The insurance sums are determined based on the replacement value of the insured construction machinery and equipment, i.e. it must correspond to the costs of replacing the insured machine / equipment with a new one of the same type, power and purpose. Restocking costs include shipping, disassembly and assembly costs, as well as any applicable taxes and duties.

The insurance premium is determined depending on the type of machines and the conditions under which they are operated.

In the event of damage, the insured promptly notifies the insurer, who inspects and assesses the damage. The compensation is paid after presenting all the documents necessary to prove the event and the amount of the damage.