Machinery Break down Policy:
This form of insurance applies to all forms of electrical and mechanical machinery boiler locomotives, lifting handling machinery, air conditioning equipment, cargo generator and all forms of process machinery such as printing press, rolling mills, textile machinery.
This Policy covers any unforeseen and sudden physical loss or damage due to defects in casting, material faulty design, fault at workshop or in erection, bad workmanship, lack of skill, shortage of water in Boilers, physical explosion, short circuit or from any other cause not specifically excluded under the policy.
The Main exclusions are:
Fire, Lightning, Chemical explosion, theft, burglary, flood, inundation, earthquake, cyclone, wear & tear, cavitations, erosion, rust, loss or damage due to war invasion, rebellion, mutiny, riot, strike, lockout, civil commotion, nuclear radiation, or radioactive contamination.
Rates & Terms are quoted on the basis of prescribed questionnaire and other information submitted to the Company.