Machinery Breakdown Loss of Profit Insurance
Engineering Insurance
Product Overview
When critical machinery is affected, factories can experience significant stoppages. The loss of gross profit from machinery damage often exceeds the cost of repair or replacement, while standing charges, wages, and other business expenses continue to accumulate. This policy is designed to indemnify owners against financial losses resulting from machinery breakdown.
Additionally, this policy can be combined with a Machinery Breakdown policy for comprehensive coverage.
Key Coverage
This policy offers coverage
for the following basic perils
Reduction of turnover
Loss of gross profits
Increased cost of working
Continuing business expenses such as wages paid to employees
...due to ongoing business interruption caused by a breakdown covered under Machinery Insurance. This interruption typically involves time spent arranging repairs, waiting for the delivery of repaired or replacement parts (sometimes from overseas), starting up the plant, and reactivating the business.
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