Products

The CPE Product comprises of three main sections:

Section 1: Material Damage includes the following Additional Benefits and Optional Extensions:

Additional Benefits

The following Additional Benefits are included in this Policy. These descriptions are for guide purposes only and should be read in conjunction with the Policy wording.

• Recovery costs

  Covers the costs incurred in recovering and/or withdrawing a machine that has become unintentionally immobilized.

• Expediting costs

  Covers reasonable additional costs incurred in effecting temporary repairs or to expedite permanent repairs up to 50% of the normal repair cost or $10,000, whichever is the lesser.

• Automatic additions and deletions

  Covers newly purchased machines that are of a similar kind to those currently insured by the Policy for up to thirty (30) days, for the current market value up to but not exceeding $250,000.

• Return of machine(s)

  Covers the necessary costs involved in the return of a machine that has been stolen and recovered, to the place it is normally based or garaged.

• Hired in machines

  Covers machines which You have hired in for use, that are specified in the Policy Schedule and You have paid us any additional premium we ask for.

• Accidental overload

  Covers insured damage caused by or resulting from accidental overloading which is non-deliberate and clearly unintentional.

• Appreciation

  Covers appreciation of the market value of insured machines up to ten (10) percent.

• Owner’s indemnity

  A breach or non-compliance with any provision of this Policy without the knowledge of You or Your responsible officer(s) will not affect Your right to the cover under this Policy.

• Damage to goods lifted - $10,000

  Covers insured damage up to $10,000 to property in Your care, custody or control while being handled by a machine being used as a crane or lifting device.

• Sign writing

  Covers loss or damage up to $1,000 to sign writing or fixed advertising signs forming a permanent part of Your mobile machine, following a loss covered under this Policy.

• Emergency travel costs

  Covers up to $500 for reasonable costs incurred in returning You or Your employee to the point of departure or Your employee?s destination, following a loss covered under this Policy.

• Optional Extensions

Optional Extensions

The following Optional Extensions are available under this Policy. These descriptions are for guide purposes only and should be read in conjunction with the Policy wording.

• Dual or multiple lifting

  Covers insured damage which is caused by or arises out of the operation of any machine in connection with dual or multiple lifting.

• Goods lifted

  Covers insured damage to property in Your care, custody or control while being handled by a machine being used as a crane or lifting device. Where selected, this cover replaces cover already provided under the Additional Benefit - ?Damage to goods lifted?.

• Increased cost of working

  Covers the increase in cost of working resulting from an interruption or interference to Your business caused by insured damage to a machine which is covered under this policy.

• Loss of Revenue

  Covers loss of revenue and the increase in cost of working resulting from an interruption or interference to Your business caused by insured damage to a machine which is covered under this policy.

• Lease Payment Protection

  Covers Your obligation to meet payments under a lease agreement for specified items as a result of insured damage under this Policy.

• Indemnity to hirer

  Covers direct first hirer(s) of machines specified in the Policy Schedule for insured damage to a machine while on hire where the first hirer(s) requests indemnity from You.

• Dry Hire

  Covers insured damage to machines specified in the Policy Schedule while on hire to another party where You did not supply an operator.

• Agreed Value

  Allows You to declare an agreed value sum insured in advance that will apply in the event of a total loss of a specified machine(s). An independent valuation is required.

• Breakdown

  Covers breakdown (as defined in the Policy) of the machines specified in the Policy Schedule for this extension.

Here is a list of some examples of equipment insured by CPE:

Backhoes, Boom Lifts, Cherry Pickers, Concrete Cutting Saws, Concrete Trucks (including Agitators & Pumps), Cranes (Mobile, Yard & Tower ), Crushing or Screening Plant, Drill Rigs (excluding drill bits down hole), Dozers, Dump Trucks, Excavators, Farm Machinery, Fork Lifts, Garbage Tucks, Graders, Heavy Recovery Vehicles (Prime Mover recovery), Hydraulic Hammers, Industrial Diesel Engines, Loaders (Crawler, Wheeled & Skid Steer), Pipe Layers, Portable Compressors, Road Pavers, Road Profilers, Rock Breakers, Rock Saws, Rollers, Scissor Lifts, Scrapers, Self Loading Trucks, Tippers, Travel Towers, Trenchers, Under-Road Borers, Water Trucks, Wood Chippers & Mulchers