Machinery All Risk Insurance

 This policy is designed to cover your machinery and equipment for the running of your business against physical loss or damage against unforeseen and sudden physical loss or damage from any cause other than those specifically excluded.

The coverage is against unforeseen physical loss or damage and includes losses arising from the perils of:

• Fire

• Damage due to defective workmanship and material, lack of skill Negligence, Malicious act, or Human error.

• Act of God, Flood, Cyclone, Storm, Tempest

• Burglary & Theft

• Impact Damage

• Collapse

• Collision, overturning, and falling

• Any other sudden, unforeseen, accidental damages not explicitly excluded

Basis of the sum insured:

The sum insured has to represent the new replacement value of the machine including customs duty, freight, and cost of erection & testing

Exclusion:

• War or Warlike operations.
• Wilful act of the Insured or of his representative
• Nuclear reaction, nuclear radiation, or radioactive contamination.
• Wear and tear, Gradual deterioration due to atmospheric conditions or lack of use, Rust
• Damage due to faulty design
• Electrical or mechanical breakdown, failure, breakage or derangement, freezing of coolant or other fluid, defective lubrication or lack of oil or coolant, but if as a consequence of such breakdown or derangement an accident occurs causing external damage, such consequential damage shall be indemnifiable.