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