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Machinery Breakdown Insurance
Concept: To provide required financial protection to the "Owners" (The Insured) of all types of Machinery/ Mechanical Equipment and associated Apparatus (The Insured Property) as a result of such property suffering breakdown due to sudden and unforeseen event during the period of insurance.  

Scope of Cover: The policy indemnifies the "Insured" named in the Policy, for monetary losses, due to a sudden and unforeseen breakdown to the insured items (to be properly listed and specified in the policy schedule) up to "Sum Insured" (being full replacement cost) on "All Risks" basis supplementing the coverage afforded by "Fire & Allied Perils" insurance.  

Property Insurable: The Policy can cover all the machinery, plant and associated apparatus whilst at rest or in operation, except those items having a short service life, such as interchangeable tools; sieves, engraved cylinders; stamps; dies; ropes; chains; belts, parts made of glass/rubber/wood or ceramics. Also operating media, such as fuels / refrigeration/ catalysts/lubricants, etc.…. are not insurable.  

Some Policy Exclusions  
Fire, lighting, chemical explosion, burglary or theft
War or Warlike Operations
Acts of God, such as Earthquake, subsidence, landslide
Normal wear & tear during the ordinary course of use/operation.  
Willful acts or gross negligence  
Nuclear reaction radiation or contamination  
Consequential losses of any kind (unless insured separately)
Losses due to faults or defects (responsibility of supplier).
Premium Rating: Rate is quoted on per thousand basis per annum on total sum insured based on the replacement value.