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Machinery Break Down

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This policy provides cover for accidental machinery damage.

For any manufacturing factory machinery are major items of their assets. Without machinery the process cannot go on. Therefore cover for machinery break down becomes very important. Unlike fire, the insured can select the machinery he wants to cover without the fear of application of average. It is important to insure machinery on replacement basis so that the insured can be compensated enough to afford new machinery.

The policy is normally on all risk basis. However the damage must be accidental in nature. Wear and tear is not covered. The policy can be extended to cover loss of profit following loss or damage to the insured machinery.