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

Plant All Risk (PAR) Insurance - Construction equipment exposed to harsh conditions
Plant All Risk Insurance - Construction equipment exposed to harsh conditions
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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:
  • Accidental loss or damage to the machinery;
  • Most Plant All Risk Insurance policies may include the following perils: Fire, natural, theft, collision, fall or in transit, earthquakes & collapse;
  • Market value or replacement value would most commonly apply to determine the value of the equipment;
  • Third party liability may be extended for licensed equipment using public roads;
  • Third party liability for plant on site may also apply;
  • Cover may be extended to include hired - in plant also;
  • Some policies allows for extensions such as loss of hire fees and windscreen excess buy–down.
Also, note the following important considerations applicable to Plant All Risk (PAR) Insurance:
  • Get a good broker, offering professional advice and service;
  • Some rating factors will impact on the Plant All Risk (PAR) Insurance premiums quoted. Some of these factors may be: Plant owned or hired, excess size, what the equipment or plant would be used for, working environment and off course, the type of equipment;
  • Get as many quotations from reputable insurers or underwriters as possible.
 Plant All Risk (PAR) Insurance - Consider costs for collision, collapse or fall (eg cranes)
Consider cover for collision, collapse or fall (eg cranes)
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