- Increased cost of working
- Delayed Start Up (DSU)
- Standing charges (ie. fixed overhead costs)
- Anticipated or Actual Loss of profits (ALOP)
- Interest on loans
- Additional promotional costs
- Loss of tax incentive
If new machinery is lost or damaged in transit or the delivery is delayed, you may be able to claim for lost projected sales revenues and profits together with any additional expenses incurred to keep old plant running while waiting for the new machinery to arrive.
Because we have extensive experience in writing consequential loss policies, we know it can require quite a lot of information from you to properly assess the risk to make sure that we are providing the cover that you actually need.
In order for us to write your consequential loss cover, we must also be the insurer of your cargo. This means we can help guide any arrangements for repair or replacement of lost or damaged items, and help mitigate the effects a possible loss may have on your Consequential Loss policy.
We have designed specific cover for these buildings while they’re in transit.
Our Buildings in Transit policy covers:
- Accidental, physical loss of, or damage to, the insured building while it is in transit up to a sum insured based on
- the value of the building alone at its original site excluding GST
- Removal costs, such as the costs of transit, of preparing the building for transit, and of preparing the destination site
- Additional professional costs incurred, including architect's, surveyor's and legal fees
- An allowance for the Insured's administration costs, up to a maximum of 10% of the above values.
- Debris removal in the event of an accident up to NZD 10,000, and Expediting expenses costs (such as paying more to get materials for the repair delivered sooner) up to NZD 5,000 - automatically included.
There is also an optional extension that may be available to provide limited cover where the insured building is made up of separate structures or is divided into separate sections for transit.