Basic Cover

Machinery Breakdown Insurance is an accident insurance for machinery and provides coverage against unforeseen and sudden physical loss or damage to the Insured's machinery caused by:

  • Human Failure ie. carelessness, negligence, lack of skill
  • Fault of Manufacturer ie. faulty design, bad workmanship, defective material or casting
  • Operational Causes ie. shortage of water, overheating, failure of control devices
  • Environmental Causes ie. dust, humidity, temperature
  • Electrical Causes ie. short circuit, faulty insulation, over voltage

Interest / Property Insured

In principle all stationery, mobile and moveable machinery and equipments e.g. steam boiler and piping/steam pressure vessel, transformer, switchboard and switchgear, electronic motor, rectifier, compressor set, generator set, turbines, lift/crane, air conditioning unit, refrigerating unit, process plant, furnace, presses etc.

Machinery may be new or used provided it is in proper operating condition.

Eligible Proposer

Machines owner, project owner, business owner and any person or business organisation that requires coverage for machines to manage the financial risk of the unexpected.

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