Machinery Breakdown Insurance
Minimize downtime and protect your bottom line with Machinery Breakdown Insurance
General Insurance Broker Asia
What is Machinery Breakdown Insurance?
Machinery Breakdown Insurance protects your business from financial loss caused by sudden and accidental damage to your machinery or equipment.
Scope of Coverage
Unforeseen and sudden physical loss or damage from causes 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
Main Exclusion
- Excluded Frauds: Loss of or damage to exchangeable tools
- Pre-existing causes: Loss or damage caused by any faults or defects existing
- Willful act: Loss or damage arising out of the willful act or gross negligence
- Direct consequence: Loss or damage as a direct consequence of the continual influence of operation
- Responsibility of others: Damages for which the equipment supplier or repairer is responsible
- Natural wear and tear: Wear, rust, mechanical corrosion
Insured Objects
All types of machinery, equipment and mechanical tools can be insured under a Machinery Breakdown Policy, such as:
- Power generation equipment (boilers, turbines, generators)
- Power plants (transformers, high and low voltage equipment)
- Production machinery
- Auxiliary equipment
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