Hotline Call Centre: 1500 674 (MSI)Machinery Breakdown Insurance
Protects machinery against loss or damage arising from operational use.
Key features
All risks coverage
Cover All Risks “Accident” insurance on the machinery due to operation.
Variety of insured objects
Insured objects such as Boilers, turbines, steam engines, generators, compressors, diesel engines and engineering plants etc.
Business interruption – extension cover
Plan highlights
Cover against sudden and unforeseen physical loss of or damage to the machinery
All types of machines, equipment and plant equipment that require high enough electric power
Cover the process at work or at rest, or being dismantled for the purpose of cleaning, inspection or overhauling, or in the course of the operations, or when being shifted within the premises during subsequent re-erection
The coverage is for the owner or principal or employee on development project, also parties with financial interest in machinery or factories or having responsibility in handling or managing the factory
Plan details
Any unforeseen and sudden physical loss or damage necessitating its repair or replacement due to causes such as:
- Defect in casting and material.
- Faulty design.
- Faults at workshop or in erection.
- Bad workmanship.
- Lack of skill.
- Carelessness.
- Shortage of water in the case of boilers.
- Physical explosion or tearing apart on account of centrifugal forces.
- Short circuit.
- Storm.
- The deductible stated.
- Loss or damage to belts, ropes, chains, rubber tyres, dies or exchangeable tools.
- Loss or damage due to Fire, the extinguishing of a fire, or subsequent demolition, theft, subsidence, landslide, floods, inundation, earthquake or similar natural catastrophes.
- Loss or damage for which the manufacturer or supplier of the property is responsible either by law or under contract.
- Loss or damage caused by any faults or defects existing at the time of commencement of this insurance within the knowledge of the Insured or his representatives.
- Loss or damage arising out of the wilful act or gross negligence of the Insured or his representatives.
- Loss or damage in consequence of war, invasion, acts of foreign enemy, hostilities or warlike operations, civil war, mutiny, insurrection, rebellion, revolution, conspiracy, military or usurped power martial law, riot and civil commotion, strikes, lock-outs, confiscation, etc.
- Nuclear reaction, nuclear radiation or radioactive contamination.
- Loss or damage wearing away or wearing out of any property insured.
- Consequential loss or liability of any kind or descriptions.
- Other exclusions as defined in the Insurance Policy.
