Machinery Breakdown Insurance

The IGI Machinery Breakdown Insurance provides cover for insured machinery against sudden and unforeseen physical loss or damage, necessitating its repair or replacement resulting from fortuitous working accidents.

The IGI Machinery Breakdown Insurance provides cover for insured machinery against sudden and unforeseen physical loss or damage, necessitating its repair or replacement resulting from fortuitous working accidents such as maladjustment, loosening of parts, failures or faults in protective devices, entry of foreign bodies, tearing apart due to centrifugal forces, shortage of water in steam boilers or pressure vessels, over-pressure (except when caused by excluded occurrences), short-circuit, overvoltage or overcurrent (except when caused by excluded occurrences) defects or faults in design, material or manufacturing and faults in erection, faulty operation, lack of skill, carelessness, malevolence of employees, storm and any other event that is not specifically excluded in the policy.

Circumstances

The cover applies whether the insured property is at work or at rest or dismantled for the purpose of cleaning, overhauling, or of being shifted within the premises, or in course of subsequent re-erection.

Premises/Location

The insured machinery is covered as long as it remains on the premises specified in the insurance schedule.