Plant All Risk Insurance covers your mobile and self-propelled construction plant, excavators, cranes, bulldozers, compactors and more, against accidental damage, fire, theft, and third-party liability wherever your machines work.
Plant All Risk (PAR) Insurance is a comprehensive All Risks form covering direct physical loss or damage to plant machinery from any cause not specifically excluded. Unlike machinery breakdown policies (which cover mechanical failure), PAR covers sudden, accidental, and external damage to your plant — generally on a new for old basis — whether it is working on site, in transit between sites, or temporarily parked. It is an essential policy for any business operating heavy construction or industrial equipment in Nigeria.
PAR Insurance covers mobile and self-propelled construction plant and equipment. Stationary industrial machinery is covered under the separate Machinery Breakdown policy.
Excavators & Diggers
Hydraulic excavators, backhoe loaders, trenchers, and mini-excavators used for earthmoving and foundation work.
Cranes & Hoists
Mobile cranes, tower cranes on wheels, crawler cranes, and mini-cranes operating at construction projects.
Bulldozers & Graders
Crawler bulldozers, motor graders, and land-clearing equipment for site preparation and earthworks.
Compactors & Rollers
Vibratory rollers, plate compactors, and road rollers used in road construction and site compaction works.
Forklifts & Loaders
Rough terrain forklifts, wheel loaders, telescopic handlers, and skid-steer loaders for materials handling.
Specialist Plant
Piling rigs, concrete pumps, transit mixers, road pavers, and other specialised self-propelled construction plant.
Covered Risks
All-risk cover, any accidental loss or damage not specifically excluded is covered.
Key Exclusions
These risks are not covered under a standard PAR policy.
Our claims process is straightforward, report quickly to protect your right to claim and keep your machinery downtime to a minimum.
Notify Us Immediately
Report the incident to Prestige Assurance as soon as the damage or loss occurs, ideally within 24 hours. Also notify the police in cases of theft or third-party injury. Do not move or repair the plant without prior written consent.
Submit Your Claim Form
Complete and return the PAR claim form with supporting documents, photographs of the damaged plant, police report (where applicable), operator statements, and site incident report.
Loss Adjuster Inspection
A registered loss adjuster visits the site to inspect the damaged plant, assess the cause of loss, and confirm that the incident falls within the policy terms. Cooperation with the adjuster is a policy condition.
Repair or Replacement
Once the claim is approved, Prestige will either authorise repair at an approved workshop, or, if the plant is a total loss, pay the agreed insured value less any applicable excess deductible.
Standard Deductible / Excess
5%
A standard excess of 5% of the claim amount (subject to a stated minimum) applies per loss under Section A (Own Damage). Section B (Third Party Liability) claims are typically excess-free. The exact excess is specified in your policy schedule at inception and may vary by plant type and age.
Your plant is your business, an accident, theft, or fire without cover can halt your project and drain your capital. Prestige Plant All Risk Insurance keeps you moving, no matter what happens on the ground.