Machinery Insurance

Machinery Insurance

Every business house that depends on machinery suffer loss due to the sudden and accidental stoppage which results in the breakdown of such machinery. To reinstate or replace the part/whole machine requires some amount of extra expenditure/ capital expenditure.

Machinery Insurance is meant to keep you safe in these kinds of scenarios.

What Machinery Insurance Covers

• Electrical and Mechanical Breakdown
• Mistakes by the operator or accidents that happen while maintenance is going on
• Breakage or getting damaged by accident while in use
• Transportation charges for taking it to the repairer’s premises and vice-versa
• De-erection and Re-erection charges

Exclusions

Like all insurance policies, Machinery Insurance cover though wide in nature, there are exclusions under the terms and conditions. The standard exclusions are:

• Fire
• Natural Calamities
• Gradual deterioration of machinery due to normal wear and tear.
• Poor or inadequate maintenance of the machinery or if a defect in design caused the loss.
• If the machine was overloaded, beyond 'safe' capacity.
• When there is malicious intention to damage.
• War, terrorism, and nuclear risks (unless specified when adding cover)

Benefits of ANIB

• ANIB will help the client in identifying the critical machinery for insurance
• Wider Cover with affordable premium will be sourced with insurers of repute in nature.
• You'll have dedicated support personnel who will support you during the claim process to move things in the right direction of final settlement.