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Everything you need to know
What is Contractors Plant and Machinery Insurance
CPM Insurance
Contractors Plant & Machinery insurance covers construction equipment such as cranes, excavators and loaders against accidental damage, fire, theft and natural calamities, whether working, at rest or being maintained on site.
Whether you're operating a ₹2 crore tower crane or a fleet of excavators, CPM insurance helps protect your business from the cost of accidental damage to your equipment.
Why Is This Policy Vital for Contractors
Because Heavy Equipment Has Heavy Price Tags!
Construction equipment represents 40-60% of contractor investments, with single machines costing ₹50 lakh to ₹5 crore. One crane collapse or excavator breakdown can halt projects worth crores and trigger penalty clauses. CPM insurance is the difference between “temporary repair delay” and “bankruptcy notice from lenders.” It’s survival insurance for construction businesses!
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Who Needs Contractors Plant and Machinery Insurance?
Construction Contractors
Companies owning bulldozers, cranes, excavators, and earthmoving equipment need comprehensive breakdown and accident coverage.
Infrastructure Developers
Highway, metro, and bridge builders require protection for specialized equipment like piling rigs and concrete batching plants.
Mining & Quarry Operators
Heavy-duty crushing equipment, loaders, and dump trucks face extreme operating conditions requiring robust protection.
Equipment Rental Companies
Businesses leasing construction machinery need protection against customer damage and operational breakdowns.
Real Estate Developers
Property developers with in-house construction fleets require equipment protection across multiple project sites.
Ports, warehouses and logistics firms
Reach stackers, forklifts and other handling equipment used on site.
Types / Add-ons Commonly Offered
Comprehensive CPM Cover
All-risk coverage for owned machinery.
Third-Party Liability
Cover for injury or damage to others caused by the machines on site, where included in your policy. Machines used on public roads also need motor insurance.
Hired Equipment Cover
Rented machinery protection.
Transit
Cover for moving equipment between sites, where included in your policy.
Terrorism & SRCC
Enhanced political risk coverage.
What Contractors Plant and Machinery Insurance Covers
Accidental Damage
Sudden and unforeseen physical damage to plant and machinery during operation.
Fire & Explosion
Damage to equipment from fire, self-ignition, or explosion.
Collision, Overturning & Collapse
Damage from collision with other objects, or damage to cranes and lifting equipment from overturning or accidental collapse.
Theft & Burglary
Loss of equipment or parts due to theft or burglary.
Flood & Storm
Damage caused by flood, storm, cyclone, and other natural calamities.
Third-Party Liability
Legal liability for injury or property damage caused to third parties by the machine.
Transit Damage
Damage to equipment while being transported between project sites.
Riots & Strikes
Damage caused by riots, strikes, and civil commotion.
Inclusions & Exclusions
✓Inclusions
- Accidental Damage — Sudden external damage to machinery while working, at rest, or during maintenance.
- Fire & Allied Perils — Fire, explosion, and lightning. Damage from short circuit is covered only if it causes a fire.
- Theft & Burglary — Loss from forcible entry and machinery theft from sites.
- Natural Calamities — Flood, storm, earthquake, and landslide damage to equipment.
✗Exclusions
- Wear & Tear — Normal aging, depreciation, and routine maintenance excluded.
- Mechanical Breakdown — Internal mechanical or electrical breakdown is not covered under CPM; a separate Machinery Breakdown policy is needed.
- War & Nuclear — War risks, terrorism (unless specifically covered), and nuclear hazards excluded.
- Consequential Loss — Indirect losses, project delays, and penalty clauses typically excluded.
FAQs
Only machines listed in the policy schedule are covered, whether owned or hired. Hired machines can be added if your hire contract makes you responsible for them.
No! Standard CPM covers external accidents only. Mechanical breakdown needs separate machinery breakdown insurance.
Check your policy schedule to see whether movement between sites is covered.
Damage caused by operator error is covered as per the policy wording; deliberate damage is not covered.
Yes! Forcible theft from site is covered, but mysterious disappearance isn't.
Based on equipment type, value, age, usage intensity, and site location.