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What is Machinery Breakdown Insurance?
This insurance covers your machine for any unforeseen and sudden physical loss or damage from causes such as faulty design, etc
Product information
Plan overview
- Coverage period
- 12 months (1 year)
- Perils Coverage
- All risks
What it gives you
Features of Machinery Breakdown Insurance
It protects you from any loss or damage due to machinery breakdown.
FAULTY DESIGN
Loss of or damage to property directly caused by faulty design
FAULT AT WORKSHOP OR IN ERECTION
Damage caused by faulty design
PHYSICAL EXPLOSION
Damage caused by explosion
SHORT CIRCUIT
- Damage caused by short circuit
OR ANY OTHER CAUSE WHICH NOT EXCLUDED IN THE POLICY
- Damage caused by other perils which not excluded in the policy
How much the premium is
Sample of calculation
The premium rates will be depending on:
- Sum Insured
- Machine type
- Year of manufacture
- Other factors
What we don’t cover
- to exchangeable tools
- due to fire, direct lightning, chemical explosion
- for which a supplier, contractor or repairer is responsible
- arising out of the willful act or gross negligence
Note: This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy.
Important information
This is general information and is not an insurance contract/agreement. Detail terms and conditions will be referred to the policy. It is crucial that you read and understand the policy's terms and conditions well.
Wait, I have a question.
You might find your answers in FAQs.
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