Phone: +372 53835142
Machinery (CPM) Insurance
Finishing of production and process facilities and associated equipment:
Production and Process Facilities:
Equipment and machinery that are part of factories and plants:
Self-propelled machinery:
Logging and agricultural equipment:
Equipment used in commercial activities:
What affects the cost of a policy?
Replacement cost of equipment or machinery:
Year of construction or manufacture:
Type of Use:
Number of Units Insured:
Types of losses covered by the policy:
Policy deductible:
Prior Loss History:
Production and Process Facilities:
- Production Lines: Includes all elements involved in the manufacturing process such as conveyors, machines, ovens, and other equipment needed to make products.
- Process Plant: This is the equipment used to perform specific manufacturing processes such as mixing, heating, cooling, and other manufacturing operations.
Equipment and machinery that are part of factories and plants:
- Manufacturing equipment: All machinery and equipment that is used in the manufacturing process in a factory, including all auxiliary and support equipment.
Self-propelled machinery:
- Excavators: Machines designed to dig, excavate, and move earth.
- Bulldozers: Machines used to move and level large volumes of earth and other materials.
Logging and agricultural equipment:
- Logging Equipment: Machines designed to cut and process trees, such as harvesters and forwarders.
- Agricultural Machinery: Equipment used in agriculture, including combines, tractors, plows and seeders.
Equipment used in commercial activities:
- Miscellaneous commercial equipment: Includes machines and devices used in various industries to perform commercial tasks such as packaging, transportation, and handling of goods.
What affects the cost of a policy?
Replacement cost of equipment or machinery:
- Replacement Value: An estimate of the cost to fully restore or replace equipment and machinery in the event of damage.
Year of construction or manufacture:
- Date of manufacture: Effect on policy value depending on the year of manufacture of the equipment or machinery.
Type of Use:
- Purpose and use: What type of equipment or machinery is used (e.g., manufacturing, construction, agricultural), which may affect the cost of insurance.
Number of Units Insured:
- Number of Items: The total number of machinery or equipment included in the policy, which may change the cost of insurance coverage.
Types of losses covered by the policy:
- Scope of coverage: Variety of risks and losses that are covered under the policy such as damage, theft, breakage and others.
Policy deductible:
- The amount of deductible: The amount that the policyholder must cover out of their own funds before receiving an insurance claim.
Prior Loss History:
- Previous Losses: Record of previous insured events and losses that may have affected the value of the policy.