All plant and machinery are vulnerable to breakdown or damage irrespective of their quality or reliability. Every day, your valuable assets are exposed to operational risk, a small disaster like the facture of a flywheel may result in a loss affecting several machines, which will cost business owner a gigantic replacement and repair bills. Therefore a comprehensive insurance coverage is vital.
The policy covers sudden and unforeseen physical damage or loss due to any accidental electrical or mechanical breakdown to the Insured machinery whilst being at work or rest and during any cleanup, inspection, overhauling or subsequent re-erection and removal to another position within the premises arising from the cause of:
Defects in Casting & Material
Faulty Design
Faulty Material Used in the Machinery
Faulty at Workshop or in Erection
Bad Workmanship
Lack of Skill
Carelessness
Shortage of Water in Boilers
Physical Explosion
Defective Lubricant
Tearing Apart from Centrifugal Force
Short-circuit
Storm
Loosening of Parts
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