Protects from loss of profits from machinery breakdown
For all plants, machinery and mechanical equipment
A wide range of loss or damage causes covered
For businesses with large scale operations, any sudden damages in the machinery can have big consequences. These can result in a sudden stop in the ongoing processes, and thereby result in a gap in revenue.
Our Machinery Breakdown (MBD) insurance policy can help protect you against such situations. The policy is designed for plant, machinery and mechanical equipment at work, at rest or during maintenance operations.
As the business owner, you are covered against any unforeseen and sudden physical loss of or damage to the insured items, necessitating their repair or replacement.
MBD insurance usually supplements the coverage afforded by fire insurance.
Scope of Cover
Note: The sum insured should be equal to the cost of replacement of the insured machinery by new machinery of the same kind at the same place (value of the new item plus customs duties plus transportation and installation charges).
How to Get Insured
Apply by Phone
Call us at 800 4746 (toll-free) for more information and to enrol over the phone.
Apply by Email
Drop us an email with all your details and we'll get back to you soon.
Apply in Person
Walk into one of our branches to get information, apply, and enrol in person.
No, any loss or damage to items that are immediately affected by the above are not covered. However, your insurance can be extended to cover any loss or damage to the correctly executed items resulting from an accident that happened because of faulty design, defective material or workmanship.
Yes, the insurance is valid on any airline as long as the passenger is assigned a proper seat.
No, it's not. It totally depends on you. But we would say that it is advisable.
So, this is how it goes. You will need to estimate the maximum value of the stock that you may be holding at a particular point of time during the policy. This will be considered as the sum insured and the premium rate is charged based on this amount.
At the beginning of each month, you will need to declare the highest value of the stock that you were holding during the previous month. The same will be considered as the declaration for that month. At the end of the policy period, the premium is adjusted based on the average monthly declarations provided by the insured.
To be honest, we don't usually insure plastic factories. However, you can reach out to us and we can come to a decision based on your case.