Machinery Breakdown Loss of Profit Insurance

Machinery Breakdown Loss of Profit Insurance

Machinery Breakdown interrupts our Businesses in various ways; –

  1. Time spent in arranging repairs
  2. Awaiting delivery of repaired or replacement parts (sometimes from overseas)
  • Starting up the plant and re-activating the business.

First assurance offers a Cover that protects  you from the loss of gross profit /or Increase cost of working due to a continuing interruption to business caused by the breakdown.

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.

First Assurance cushions you against such events.

Benefits

First Assurance offers a cover that protects you from the loss of gross profit or increased cost of of working due to a continuing interruption to business caused by the breakdown.

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 does the insurance cover?
  • The continuing business expenses (standing charges)
  • Net profit
  • Additional expenditure necessarily and reasonably incurred for avoiding or diminishing a reduction in turnover.
  • Salaries and wages paid to employees
2. Is premium paid at the time of claim? No. premium is paid at inception of cover.