Plant All Risk Insurance, also known as Equipment All Risk Insurance, is a specialized type of coverage designed to protect construction plant and machinery against unforeseen physical loss or damage. Let’s break it down:

Coverage Scope:
Construction Plant and Equipment: This insurance covers various types of machinery and equipment commonly used in construction, infrastructure projects, and industrial settings. Examples include mobile compressors, graders, bulldozers, forklifts, trench diggers, dump trucks, front-end loaders, and mechanical shovels.

Coverage Situations:
While the equipment is stored at your own premises.
During transit between your premises and the place of use.
While the equipment is being used as a tool of trade.
At exhibitions or demonstrations.
Transit back to your premises.

What It Protects Against:
Fire and Accidental Damage: Plant All Risk Insurance provides coverage for damage resulting from fire, accidental incidents, and other unforeseen events.
Theft and Burglary: If your machinery is stolen or damaged due to burglary, this insurance can help cover the losses.

Extensions and Additional Coverage:
Hired-In Plant: You can extend the coverage to include machinery that you’ve rented or hired for specific projects.
Hired-Out Plant: If you rent out your equipment to others, this insurance can cover it.
Hire Charges: If you incur additional hire charges due to equipment loss or damage, those costs may be covered.
Third-Party Liability: Some policies also include liability coverage for third-party property damage or bodily injury caused by your machinery.

Why You Need It:
Risk Mitigation: Construction sites are inherently risky environments. Machinery breakdowns, accidents, and theft can disrupt your projects and impact your bottom line.
Financial Protection: Plant All Risk Insurance ensures that you’re financially protected against unexpected losses related to your equipment.

Tailored Policies:
Whether you’re a large-scale construction company or a handyman with a few essential tools, there are customized policies available to meet your specific needs.
Having this coverage helps keep your projects on track and minimizes delays due to equipment issues.