Machinery Breakdown (MBD)
This policy covers financial loss incurred by the insured due to loss or damage to machinery due to sudden accidental electrical and mechanical breakdown. It reimburses the insured for the cost of repairs or replacement of machinery of like nature.
All types of industrial machinery like compressors, pumps, turbines, etc., and electrical machines like a transformer, electrical motor, generator, etc., can be covered under this policy.
Add-ons are available to extend your cover to:
- Express freight (air freight excluded), holiday and overtime rates of wages
- Owner’s surrounding property
- Third-party liability
- Additional Customs Duty
- Machinery Breakdown Loss of Profit