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The Best Insurance For You
It ensures that your business can quickly recover from machinery failures, minimizing downtime and financial loss.
Minimize Downtime :Quickly addresses machinery failures, reducing operational downtime and ensuring business continuity. |
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Comprehensive Coverage :Provides protection for a wide range of machinery and equipment, including those used in production, processing, and manufacturing. |
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Financial Security :Covers the high costs associated with repairing or replacing damaged equipment, preventing unexpected financial strain. |
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Increased Equipment Lifespan :Encourages regular maintenance and monitoring of machinery to prevent breakdowns and extend the equipment’s life. |
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Customizable Plans :Tailored coverage options to fit your specific machinery needs and industry requirements, providing peace of mind. |
Quickly addresses machinery failures, reducing operational downtime and ensuring business continuity.
Provides protection for a wide range of machinery and equipment, including those used in production, processing, and manufacturing.
Covers the high costs associated with repairing or replacing damaged equipment, preventing unexpected financial strain.
Encourages regular maintenance and monitoring of machinery to prevent breakdowns and extend the equipment’s life.
Tailored coverage options to fit your specific machinery needs and industry requirements, providing peace of mind.
Coverage for sudden and unforeseen physical damage to machinery due to mechanical or electrical breakdowns.
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Expenses for repair or replacement of damaged parts, components, or the entire machinery. |
Coverage for damage caused by short circuits, electrical faults, excessive pressure, or lack of lubrication. |
Protection for damage due to centrifugal force, overheating, or bursting caused by internal pressure. |
Coverage for the cost of labor and transportation required to repair or replace the machinery. |
Coverage for additional expenses incurred to expedite repairs, including overtime wages, express freight charges, etc. |
Loss or damage due to normal wear and tear, gradual deterioration, rust, or corrosion. |
Damages caused by intentional misuse, negligence, or improper handling of machinery. |
Loss or damage due to pre-existing defects or faults in the machinery. |
Damages due to fire, explosion, natural calamities, or perils that are covered under other specific policies. |
Losses due to war, nuclear risks, terrorism, or other politically motivated acts. |
Cost of regular maintenance, upkeep, or parts replacement that is not associated with a breakdown. |
Consequential losses, such as production delays or business interruptions, unless specifically covered. |
This policy covers a wide range of machinery and equipment used in production and manufacturing, such as boilers, compressors, pumps, turbines, generators, and other specialized machines essential to your operations.
Premiums are based on factors such as the type, age, and value of the machinery, its usage, the risk profile of the operations, and the extent of coverage required. Regular maintenance and safety measures can also impact premium rates.
In the event of a breakdown, immediately notify your insurer, document the damage with photographs, and do not attempt to repair or move the machinery until an assessment is completed. Follow the insurer’s claims process for a prompt resolution.
Yes, most policies have a deductible that is applied to each claim. The deductible amount varies based on the terms of the policy and the type of machinery insured.
Regular maintenance, timely inspections, proper training for operators, and adherence to safety protocols can significantly reduce the risk of machinery breakdowns. Additionally, implementing a preventive maintenance program can help extend the life of your equipment.
