Machinery Breakdown

The Machinery Breakdown Insurance covers sudden and unforeseen damages arising from mechanical and electrical breakdowns and accidental external means to insured’s plant and machinery while at work/rest and /or while dismantling, or . It also covers losses or damages due to faulty operations, adjustments, castings, vibrations, entry of foreign objects, loosening of parts, self-heating and centrifugal forces. The policy pays for the cost of repairs and replacement of parts including cost of dismantling, re-erection, installation expenses, ordinary freight, custom duties and dues.
  • On payment of additional premium, following additional risks also can be insured:

      • Damage to foundation of machinery.
      • Damage to oil in electrical apparatus.
      • Overtime Wages and Holiday Wages.
      • Express Air freight (excluding air freight), holiday rates, overtime charges.
      • Additional custom duty over and above the percentage of duty included in the original sum insured.
      • Own surrounding property damage to the insured's own existing property.
      • Third party liability on the insured for bodily injury or property damage caused due to the machine.

It does not cover losses due to Fire and allied perils, overload experiments/tests, gradual wear and tear, willful act of negligence, contractual liabilities and consequential losses. The policy is highly suitable for covering heavy machineries like transformers, turbines,compressors, generators, motors, textile machineries,printing press machinery, plastic manufacturing machines and so on.