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Machinery Breakdown Insurance Policy

  • Faulty design, faulty erection, defects in casting, and material.
  • Faulty operation, failure of safety/ lubrication/ control systems.
  • Tearing apart due to centrifugal forces.
  • Short circuit, excess voltage.
  • Water shortage in boilers.
  • Damages due to the human element, lack of skill, negligence.
  1.  Selected machinery/equipment can be insured based on risk perception.
  2. The machinery equipment should be insured for the current value of a new machine of the same type and capacity