- Covers businesses for physical loss or damage to their mobile equipment.
- An All-Risks insurance.
- Limited Third Party Liability coverage may be provided.
For many businesses, there are a number of basic appliances and equipment needed to ensure that day to day work runs smoothly. For your business, this might be as general as your back-up generator or perhaps as specialized as a crop-specific tractor.
Insurance that covers special types of mobile equipment against all risks of direct physical loss or damage from any external cause. “All Risks” - type of policy covering all direct physical loss or damage from any external cause to the insured property including general, average and salvage charges. Third Party Liability cover may be provided, subject to a limited amount of coverage. What can be Insured? Equipment Floater policy provides cover for:
- Mobile contractor’s machines.
- Mobile cranes and lorry-mounted cranes (the acceptance of cranes is subject, however, to stringent technical control requirements as to suitability of type and construction, as well as periodical inspections and tests).
- Excavators, trenchers, graders, scrapers, loaders and loading shovels.
- Tractors, trailers, and dumpers.
- Bulldozers.
- Mobile concrete mixers, road rollers, fork lift trucks.
- Compressor, mixers, pumps, generators, welders, and water dowsers, either stationary or mounted on road vehicles or caterpillar tracks.
- Generator sets.
- Elevators (in use at construction sites).
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