Policy snapshot
CPM insurance covers heavy construction equipment and machinery used at project sites, whether working or at rest.
What is Contractors Plant and Machinery (CPM) Insurance?
CPM Insurance protects high-value construction equipment from accidental damage at work sites. It’s essential for infra contractors and project companies.
What can it cover?
- The policy covers sudden accidental damage due to fire, impact, overturning, landslide, electrical/mechanical faults, and operator error. It also protects the machinery while stationary or during movement within the project site. Optional coverage includes theft, terrorism, and riot-related damages.
Who should consider it?
- Infra and construction contractors, Equipment rental/leasing firms, Real estate and mining operators using heavy machines
Key features to understand
- {"heading": "Key Features", "bullets": ["Covers plant like cranes, excavators, loaders, batching plants", "Valid at project site and during idle storage", "Annual policy, renewable, with agreed list of machines", "Burglary, riot/strike, and terrorism add-ons available"]}
What deserves attention before you buy?
Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.
Read the wording, not just the brochure
The schedule and policy wording determine the actual contract.
Compare meaningful differences
Look at exclusions, limits, deductibles, conditions and claim requirements—not premium alone.
Think beyond purchase
Servicing and claims-related support can matter as much as placement.