Machinery Breakdown Policy

All types of Mechanical/Electrical equipment & apparatus

This policy will be offered only where there is SFSP Policy covering subject machinery. This can`t be granted on stand – alone basis.

Coverages:

Only Accidental Breakdown of machinery is covered. Includes Entry of foreign particle, short circuit, defective lubrication, carelessness in operation, etc.

SI must represent current new replacement value.

Extensions:

• Third Party Liability, Owners Surrounding Property
• Additional Custom Duty, Escalation
• Expediting Cost like Express Freight / Air Freight / Holiday Wages

Exclusions:

• Consequential losses
• Loss / damage due to,
• Over load experiments, Normal wear & tear
• Wilful negligence of the Insured / his representatives
• Defects & faults existing at the time of commencement of insurance
• Explosions in chemical recovery boilers
• For which manufacturer is responsible either by law or contract
• Damage to belts, ropes, rubber tyres, dies, moulds, blades etc.