Machinery is a valuable property of any enterprise. Machinery breakdown could occur in any kind of business. Our Machinery Breakdown Insurance protects clients against sudden and unexpected losses to their machinery. Therefore, the insured could have more investment opportunities from money that would have been reserved as a self-insured fund in case of no protection from this insurance.
The Insured: investors, contractors, lessors of machinery and equipment, the lessee of machinery and equipment …
Insured objects: equipment and machinery in enterprises …
Coverage:
The Insured will be compensated for sudden physical loss or damage to machinery by causes from inside machinery, such as:
– Defects in casting and material;
– Faulty design, faults at workshop or in erection, bad workmanship, lack of skill, carelessness, shortage of water in boilers;
– Physical explosion, tearing apart on account of centrifugal force;
– Short circuit, storm;
– Any other cause not specifically excluded in the Policy.