Major Classes of Insurance

Machinery Breakdown Insurance

Overview

It covers boilers, pressure vessel, economizers and related plant when they suffer any unforeseen and sudden physical loss or damage from causes such as defects in casting and material, faulty design, faults at workshop or in erection, bad workmanship, lack of skill, carelessness, shortage of water in boilers, physical explosion tearing apart of centrifugal force, short – circuit, storm etc.

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Exclusions

Excess or deductible, wear and tear, fire, existing damage before the commencement of policies, willful act, consequential loss. For more details you can refer to the policy document.

Period of Insurance

Usually one year or less than one year.

Exclusions

  • Machinery inspection clause
  • Fuel gas explosion clause
  • Pressure vessels inspection clause
  • Strike, riot and civil commotion clause
  • Nipple joint clause