Contractor's Plant and Machinery Insurance

The product is a reliable financial solution for corporates engaging in contracting construction & assembly works project and project investors. With flexible scope of insurance and objects covered by insurance added with preference in insurance premium, corporates can feel assured once risks occur that cause losses to construction machinery such as crane, construction roller, or cement mixer.

 

  • The Insured: Investors, contractors, machinery and equipments lessors and lessees, etc.
  • Insured Subjects: Construction and assembly machinery, equipments belonging to ownership of contractors or those that contractors lease such as: bulldozers, exavacators, crushers, construction rollers, cranes, overhead cranes, lift equipments, piling machines, tamping machines, etc. 
BAOVIET Bank will make indemnity for customer basing on real loss of the insured machinery, equipments once risks occur within following scope of insurance:
  • Natural hazards: inunation/ flooding, rainstorm, hurricane, tsunami, thunderbolt, subsidence, avalanche, earthquake, volcano eruption, etc.
  • Risks from human activities (at site): Fire, explosion, poor experience, carelessness, theft, etc.
  • Other risks: fall, overturn, collapse, crash and other unpredictable incidents during execution or site displacements
  • Losses occurred during operation or fail to operate, during assembling or disassembling process for maintenance or repair purpose providing that the machine has passed test run successfully.
  • Besides, BAOVIET Bank extends the scope of insurance for customers for the risks occurred during the transportation of machinery to construction site or from site to warehouse after completion of the project.
  • Contractor's Plant and Machinery Insurance Request
  • Certificate of Business Registration
  • Documents to prove the ownership of property

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