This class of insurance is specially designed to cover mobile vehicles or equipment which are not licensed for general road use. Some examples include forklifts, wheel loaders, agricultural tractors, excavators, bulldozers, crawlers etc.
The policy covers loss or damage to the property insured by :
- Accidental collision or overturning or collision or overturning consequent upon mechanical breakdown or consequent upon wear and tear
- Fire external explosion self-ignition or lightning
- Malicious Act