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  Machinery Breakdown Insurance Policy

Scope of Cover

Sudden and unforeseen accidental damage to machinery

The machinery can be at work or at rest

Machinery being dismantled for cleaning / overhauling and in course of these operations being shifted within specified premises or being re-erected subsequently also covered.

Extensions

Escalation

Express freight (excluding air freight), overtime and holiday rates of wages

Air freight

Owner's surrounding property

Third party liability

Additional customs duty

Exclusions

This policy covers all risks subject to the following exclusions:

Fire and related perils

Overload experiments / tests / abnormal operating conditions

Gradual flaws / defects not necessitating immediate stoppages

Normal wear and tear

Wilful act/negligence

Contractual liabilities

Pre-existing defects

Consequential losses

Parts requiring regular replacements

Terrorism

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