What is Machinery Breakdown Insurance?
It is a plan that covers your plants, machinery and, mechanical equipment whether at work, at rest or during maintenance operations.
Product information
Plan overview
- Coverage
- All Risk subject to exclusion
- Plan term
- Annual renewal
The benefit(s) payable under eligible policy is protected by PIDM up to limits. Please refer to PIDM’s TIPS Brochure or contact TMIM or PIDM (visit www.pidm.gov.my).
Why Machinery
Breakdown Insurance?
Benefits at a glance.
Covers sudden and unforeseen physical damage to your plant & machinery.
Key coverage
Here is an overview of your coverage
Covers sudden and unforeseen damages due to:
- Faulty material, design, construction and erection.
- Vibration, maladjustment or malalignment.
- Defective lubrication, loosening of parts, abnormal stress, molecular fatigue, self-heating centrifugal force.
- Excessive electrical pressure, due to atmosphere electricity or otherwise.
- Short circuits or arcing.
- Lack of skill and carelessness in handling the machinery.
How much is my premium?
Your premium may vary, depending on
- Risk exposure
- Our underwriting requirements
More product
information
What we
don’t cover
✖ Loss of or damage to exchangeable tools and catalysts.
✖ Loss or damage due to fire and allied perils, flood, collapse of building, and landslide.
✖ Loss or damage due to burglary or theft.
✖ Loss or damage for which a contractor, supplier or repairer is responsible either by law or under contract.
✖ Loss or damage caused by existing defects or faults.
✖ War, civil war and any act of terrorism.
✖ Radioactive and nuclear energy risks.
✖ Willful acts or willful negligence.
✖ Loss or damage as a direct consequence of the continual influence of operation (e.g., wear and tear).
✖ Consequential loss or liability of any kind.
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 plan is underwritten by Tokio Marine Insurans (Malaysia) Berhad. All benefits and features mentioned herein are subject to terms and conditions of the policy. It is in your best interest to refer to the policy contract for the precise terms and conditions of this insurance plan. The information shown here is for reference only and is accurate as of 30 June 2012.
Note: You should check that this policy will best serve your needs. You should read and understand the insurance policy, and at all times, feel free to contact us for more information.
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