Machinery Breakdown Insurance

Machinery Breakdown Insurance

First assurance covers companies against unforeseen and sudden physical loss or damage to the machinery by any cause subject to excepted risks.

Whether you are a Large, Medium or small enterprise Machines are an integral part of all manufacturing and industrial units and their breakdown can adversely affect your business causing financial strain towards repair and replacement of the accepted machinery.

We cushion you against such events.

Benefits

First assurance covers companies against unforeseen and sudden physical loss or damage to the machinery by any cause subject to excepted risks.

Features

The policy provides protection in cases where financial strain is caused due to repair and replacement of machinery as a result of breakdown.

FAQS

1. What is excluded from the cover? The exclusions mainly comprise loss or damage caused by:
  • Nuclear reaction and radiation or radioactive contamination
  • Faults or defects for which the supplier is responsible either by law or under contract
  • Faults or defects existing at the time of commencement of the insurance and which the insurer was made aware of.
  • Willful acts or gross negligence by the insured or his representatives.
  • War or warlike operations and civil commotion
  • Wear and tear as a consequence of ordinary use or operations as well as cavitation, erosion, corrosion or boiler scale.
  • Inundation, flood, earthquake, subsidence, landslide, impact of land borne, waterborne or airborne craft.
  • Fire, lightning, chemical explosions, burglary and theft.
2. What items are excluded from machinery breakdown insurance?
  • Sieves, engraved cylinders, stamps, ropes, chains and belts
  • All types of interchangeable tools
  • Parts made of glass, ceramic or wood and rubber tyres