Machinery Breakdown Insurance

The usage and proper maintenance of machinery are important for businesses as these equipments plays a huge role in ensuring that the daily operations of businesses run smoothly as well as for catering the needs of the customer.

However, these are subjected to a risk of breakdown which may result in delay or shutdown of work. Machinery breakdown insurance provides a mean of reducing losses arising from such a situation.

Machinery breakdown insurance will cover sudden and unforeseen damage to the insured machinery, plant or equipment whilst either at work or at rest and during cleaning, maintenance, overhauling, inspection or removal to another position within the premises. It will exclude gradual damage and loss from any cause which are foreseeable.
 

What is covered?

Some of the perils which are covered are :

  • Electrical or mechanical breakdown
  • Faulty material, design, construction and erection
  • Vibration, mal-adjustment and misalignment
  • Loosening or parts and effective lubrication
  • Excessive electrical pressure and insulation failure
  • Short circuits or arcing’
  • Carelessness or lack of skill 

Next Steps?

News and Updates

  • Allied Insurance strengthens their CSR Initiative with New Pledges

    Allied Insurance Company of the Maldives launches new pledges under CSR initiative “Green for Good”. Reaffirming commitment for an environment friendly workspace. The new pledges were launched at the Opening Ceremony of 10to10 Dive held in Angsana Ihuru by Banyan Tree Group’s Sustainability Director and Banyan Tree Global Foundation’s Coordinating Director Dr. Steve Newman.

    August 31st, 2019
  • Allied Insurance successfully concludes FAIR Medical Conference & Healthcare Congress 2019

    Allied Insurance Company of the Maldives successfully concludes the first “FAIR Medical Conference and Healthcare Congress” held in collaboration with Federation of Afro-Asian Insurers and Re-insurers (FAIR) on 22nd - 24th July 2019. This two-day event was held in Paradise Island Resort, under the theme “A World of Opportunities”.

    July 25th, 2019
  • Ayady Takaful commences “2017 Surplus Distribution”

    Allied Islamic window; Ayady Takaful holds a press briefing session regarding “Distribution of Surplus” for the year 2017. As announced at Allied Special Event 2019, Ayady customers can submit claim forms till 31st March 2019, 4pm. Surplus application forms will be available online from Ayady website; www.ayady.mv as well as from Ayady Customer front office located in H.Orchid (In front of Velaanaage)

    February 11th, 2019