Machinery Breakdown Insurance
Engineering Insurance
Product Overview
Regardless of their quality or reliability, all plant and machinery are susceptible to breakdowns or damage. Daily operational risks expose your valuable assets, and even a minor issue, such as the failure of a flywheel, can lead to extensive damage affecting multiple machines, resulting in substantial replacement and repair costs for business owners. Therefore, comprehensive insurance coverage is essential.
Key Coverage
The policy covers sudden and unforeseen physical damage or loss due to accidental electrical or mechanical breakdown of the insured machinery, whether the machinery is in operation, at rest, or during cleanup, inspection, overhauling, or re-erection and removal to another position within the premises, arising from the following causes:
Defects in Casting & Material
Faulty Design
Faulty Material Used in the Machinery
Faulty at Workshop or in Erection
Faulty at Workshop or in Erection
Bad Workmanship
Carelessness
Shortage of Water in Boilers
Physical Explosion
Defective Lubricant
Tearing Apart from Centrifugal Force
Short-circuit
Storm
Loosening of Parts
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