Plant All Risk - PAR - Insurance
Broker Directory Article
Plant All Risk (PAR) Insurance in South Africa
Plant All Risk (PAR) Insurance covers the insured on an “All Risks” basis for the loss of, or unforseen damage, to the insured Plant and/or Equipment whilst it is in use on site, in transit, or being stored
|Like the site itself, the plant being used in the process, also faces a myriad of perils that threaten its ongoing use.
The construction sector requires specialist machinery that may also be moved in between construction sites and projects. For example, equipment such as pumps, earthmoving, cranes, compressors, may all fall under this category. The equipment is critical to the construction project being a success and making contract deadlines. Construction equipment is exposed to harsh conditions. Most Plant All Risk (PAR) Insurance policies would exclude aspects like normal wear & tear, corrosion and normal defects and explosions.
Cover would normally extend to static and non–static equipment.
There are a few leading insurers and underwriting managers offering Plant All Risk Insurance. This is a specialist insurance area and one should consider all the options available.
These options may be confusing...
In fact, the smartest thing you can do is -- Get a specialist broker to do it for you!
|Plant All Risk (PAR) Insurance policies may cover the following:|
|Also, note the following important considerations applicable to Plant All Risk (PAR) Insurance:|
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