This policy is an ideal cover for all kinds of plant and machinery. It covers the financial loss incurred by the insured due to loss or damage to machinery as a result of sudden accidental electrical and mechanical breakdown.

• Who can take this Insurance: This cover can be taken by the individual owner of the machine or a person or company having financial interest in the machine.

• What kind of machines can be covered: All types of industrial machinery can be covered under this policy.
• What is the sum insured: It is a requirement of this policy that the sum insured or value for which the particular machine is insured should represent the present day purchase value of a similar new machine including installation costs and customs duty, where applicable.

Scope of Cover

This policy covers;

• Unforeseen and sudden physical damage to the insured machinery
• Any cause not specifically excluded
• Whilst in the specified premises
• Necessitating its immediate repair or replacement.

Risk Covered

The following risks are covered by this policy:

• Short circuiting, excess voltage & electrical arcing
• Faulty design, faulty material and faulty casting
• Carelessness and lack of skill in the operation and maintenance of machinery
• Vibration, maladjustment, misalignment
• Defective lubrication, loosening of parts
• Abnormal stress, fatigue, self heating
• Centrifugal force and excessive electrical pressure

Significant General Exclusions:

• War & civil war or riot, strike and kindred risks
• Nuclear risks