Who is insured?

Construction machinery, equipment and tools that can be identified by a unique serial number and are leased using the PreferRent online platform.

Insurance eligibility:

• Confirmed lease reservation via PreferRent platform
• Correspondingly registered rental agreement (information about the insurance object (equipment) that is being leased, serial number, equipment lessor, lessee, lease period)
• Electronically signed lease agreement
• Electronically signed acceptance certificate via PreferRent platform;
• Photos before and after each lease sessions (according to PreferRent photo shooting instructions/guidelines);

Which machinery is not insured?

• Not manufactured;
• Not put into service if the law foresees that;
• Operates or is located in swamps, on water, not excluding platforms, barges, pontoons or other floating objects in the proximity of water; or is considered as water transport;
• Operates in air or considered as aerial transport;
• Operates or positioned in tunnels or underground;
• Used for purposes not intended by the manufacturer.
• Having no valid technical inspection, which must be performed in accordance with regulatory enactments;
• No certificate if regulatory enactments require the one;
• Market value is above 250,000 EUR;
• Unidentifiable / without a serial number;
• Hand tools over 5 years of age and other machinery over 15 years of age or 30,000 m/h;
• and other Exceptions specified in the technical insurance regulations TCPM-20201.

Covered risks:

• Fire, Lightning strike, Aircraft;
• Storm and hail;
• Falling of trees and objects;
• Abuse by third parties (Theft, robbery, vandalism)
• Collision, overturning;
• During transportation (if performed by the Lessee);
• Participation in road traffic/accidents (except for OCTA policy)

NOT covered risks:

• Breakage of machinery;
• Visual damage, scratches, bumps;
• Damage to the windows, tyres;
• Robbery;
• Fraud;
• Sublease;
• Depreciation, wear and losses caused by insufficient use;
• During transportation (if performed by the Lessor);
• and other exception and limitations specified in insurance conditions TCPM-20201.

Territory:

• Baltic States

When it comes into force?

Insurance coverage comes into force from the moment when each specific machinery element is handed over to the Lessee until it is returned from the lease, but not exceeding the lease period in PREFERRENT platform.

! Not insured during the transportation, if transportation services are provided by the Lessor

Requirements:

Outside of working hours, Insured object which can be all kinds of self-propelled or motorized machinery, such as, but not limited to, cranes, hoists, earthmovers, excavators, tractors, loaders, earth rollers, etc. must be locked with the alarm on, if fitted, and:

- it is stored in a fenced (fence height at least 1.8 metres) territory with a perimeter security system that in connected company's security control panel, ensuring the response time of the security guards from the signal reception time until their physical presence at the facility not exceeding 15 minutes, or

- is stored in a fenced (fence height at least 1.8 metres) territory guarded by physical security, or

- is stored in structurally limited premises with movement alarm sensor installed and a signal transmission to a physical security post at the facility or a security company's control panel, ensuring the response time of the security guards from the signal reception time until their physical presence at the facility not exceeding 15 minutes

Outside of working hours, Insured object which can be all kinds of small, hand-held equipment as well as additional equipment, such as, but not limited to, asphalt paver, asphalt saws, drills, power generators, pumps must be stored:

- in a metal container or structurally limited fenced premises (fence height at least 1.8 metres) within the territory with a perimeter security system that in connected company's security control panel, ensuring the response time of the security guards from the signal reception time until their physical presence at the facility not exceeding 15 minutes, or

- locked premises of the building with movement alarm sensor installed and a signal transmission to a physical security post at the facility or a security company's control panel, ensuring the response time of the security guards from the signal reception time until their physical presence at the facility not exceeding 15 minutes

Deductible:

Machinery market price (from/to)	Deductible, EUR
1 EUR – 5000 EUR	250 EUR
5001 EUR – 10000 EUR	500 EUR
10001 EUR – 50000 EUR	700 EUR
50001 EUR – 100000 EUR	1000 EUR
100001 EUR – 250000 EUR	2000 EUR
For theft and total faulty 10% of the amount of loss

How to apply for the remuneration?

The Insured or the eligible User of the Equipment is obliged to notify via Preferrent of the occurrence of the Insured Risk immediately after the occurrence of the Insured Risk, but not later than 3 business days (as soon as possible) from the moment when the occurrence became possible, registering the risk via Preferrent using www.preferrent.com website

List of documents to be submitted:

• Explanation, description of the accident - when, what happened, circumstances, including the date of the accident, the place of the accident;
• Docs. of the competent authorities (Police, State Fire and Rescue Service (VUGD), etc.);
• Cost estimate;
• Photo for the place of the incident and damages;
• Electronically signed lease agreement
• Electronically signed acceptance certificate
• Photos of machinery acceptance and transfer
• Document certifying the year of production / purchase of damaged equipment (submitted by the Lessor)
• Driving license/certificate (if required);
• Additionally, other documents can be requested for submission and information that might help to determine the circumstances of the accident and the amount of damage at the discretion of the Insurer;

! Do not perform technical repairs without the approval of If Insurance Company. Certain works can be carried out to eliminate immediate consequences or reduce losses, but not before the photographic evidence (overview photo and damage photo) is collected.

! It is forbidden to utilize, destroy or transfer the machinery to third parties.