MOTOR & PLANT

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If required, both own plant and hired-in-plant can be insured as part of the contract works subject to a separate sum insured being supplied for each section of cover.

Own plant can include cement mixers, excavators, generators, scaffolding, access towers, plant storage containers, etc. Plant can be expensive, so many construction companies hire in certain items of plant, and especially where this is only used occasionally for certain contracts. Typical items hired in by a contractor could include dumpers, excavators, mobile cranes, tower cranes, etc.

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FREQUENTLY ASKED QUESTIONS

What is "Market Value"?

Market Value is the fair Market value as determined by the Dealer taking into consideration the amount of hours the item has worked and the repairs or improvements done. In the event of a total loss the loss adjuster will use the same method to determine the value. Should there be a partial loss and parts have to be replaced with new parts (used parts could not be sourced) and there is a price difference, then a betterment contribution could be called for. If the item is under insured then average will apply.

What is "New Replacement Value"?

New Replacement Value is the price the same or similar item will cost today. Should a total loss occur then the loss adjuster will obtain the value from the dealer, but settlement will be based on the market value, taking into consideration the amount of hours the item has worked and the repairs or improvements done. In the event of a partial loss the damaged items will be replaced. If the item is under insured then average will apply.

What is "Agreed Value"?

Agreed Value is the value as agreed by the client (insured) and the Insurer. The Agreed Value shall not be less than the fair Market Value and not more than the Market Value plus 20%. In the event of a total loss the loss the claim will be settled at the insured value. Should there be a partial loss and parts have to be replaced with new parts (used parts could not be sourced) and there is a price difference, then a betterment contribution could be called for.

FROM THE CIVILSURE BLOG

Don’t drop the wrecking ball now

As a responsible construction company owner, you know the importance of insuring your plant and making sure that your other necessary policies are in place with CivilSure. But did you know that the number of instances of – and the size of – liability claims litigation is higher than ever, and climbing?

Build a foundation against liability claims litigation with construction liability cover

As a responsible construction company owner, you know the importance of insuring your plant and making sure that your other necessary policies are in place with CivilSure. But did you know that the number of instances of – and the size of – liability claims litigation is higher than ever, and climbing?

Three ways to insure your plant

Civilsure understands the importance and necessity of comprehensive plant insurance at a reasonable rate. We also know that you expect impeccable service and attention to detail at claims stage. That is why we are committed to helping you choose the correct plant all risk (PAR) for your business needs.

Special project delay insurance for special risks

You know that there are many risks associated with running a construction company. After civil unrest wreaked havoc in South Africa in June and July this year, you may be asking yourself: “What would happen if we should have to temporarily close our construction sites because of civil commotion, public disorder, rioting, looting, labour disturbances, strikes, a lockout – or even an act of terrorism?”

No good deed goes unpunished

Employing smaller companies as sub- or independent contractors gives your own business more flexibility and allows local contractors to expand their business. But, did you know that as the client, you might be held civilly liable for any costs or compensation in case of work-related injuries or illness?

Plant All Risk Advice

“PAR” stands for Plant All Risks, and is a section of insurance cover that is intended to cover all types of construction plant i.e. mobile yellow metal plant such as Graders, TLB’s, Excavators and / or non-mobile construction equipment such as scaffolding, generators and small tools. These are typically used on construction and civil engineering projects ranging from residential to commercial to large infrastructure projects. A PAR policy will cover risks that are fortuitous working accidents/ sudden and unforeseen losses or damages…

Help! What construction insurance do I need?

Understandably this can be a challenge as there is a myriad of cover available in the construction insurance landscape.

Let’s quickly unpack 5 Construction Insurance options for you.

What is not covered by a Contractors All Risk Policy?

The main part of the Contractors All Risks insurance is the Contract Works section which provides cover for the property being worked on (e.g. new house, etc.). But it’s important to be aware of what’s not covered by a contractors all risk policy, these are just a few examples:

What is Plant All Risk Insurance?

Your onsite machinery (plant) is vulnerable to a number of problems such as breakdowns, vandalism and theft. Missing a project deadline can be bad news for your bottom line as well as your reputation. Plant All Risk Insurance covers you for loss of, or damage to, construction plant and equipment whilst in storage, transit, on the contract site or being use as a tool of trade.

Does a Construction All Risk Policy cover damage to surrounding property?

Yes, damage to surrounding property is covered by a construction all risk policy, provided it’s included as an add-on to the Contract Works cover. This means an extra premium would be charged to get the specified surrounding property covered.

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