Machinery Breakdown Insurance
• This insurance covers the repair and replacement costs needed to fix damages arising due to sudden and unexpected risks for any reason while machines are operating or getting cleaned and/or relocated in the same workplace.
• The scope of coverage of the machinery breakdown insurance can be expanded by getting additional coverage on physical explosion, overtime and serial transportation expenses, strike, lockout, disorder, civil commotion, terrorism risks (fire and natural disorders are not included in the main clause), etc.
• The insurance period given for coverage is generally 12 months.
• The value that constitutes the basis of insurance in machinery breakdown insurance is the new purchase prices of the machines and equipments.