MACHINERY BREAKDOWN INSURANCE
MACHINERY BREAKDOWN INSURANCE
Machines are a crucial component in many industries such as manufacturing, construction, pharmaceutical industry etc. When a machinery breaks down, the cost of repair or replacement as well as the subsequent down time, can cause a major financial impact to your business.
Machinery Breakdown insurance provides cover against sudden and unforeseen physical damage to your machineries whether at work or at rest and during cleaning, inspection, over-hauling, and removal to another position within the premises. The policy covers all accidental damages or losses due any causes except those specifically excluded in the policy.
This policy covers:-
- Faulty material, design, construction and erection
- Vibration, mal-adjustment or mal-alignment
- Defective lubrication, loosening of parts, abnormal stress, molecular fatigue, self-heating centrifugal force
- Short circuits or arcing
- Lack of skill and carelessness in handling the machinery
- Excessive electrical pressure, due to atmosphere electricity or otherwise
This policy covers three sections: -
- Material Damage
- External Data Media
- Increased Cost of Working
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NLA aims to get you the best insurances services
NLA was established in 1986.
We specialize in Corporate Employee Benefits, General Insurance & Motor Insurance solutions
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