It covers unforeseen and sudden physical loss of or damage to plant, Machinery and Mechanical Equipment
at work, at rest or during maintenance operations, lack of skill, carelessness, shortage of water in boilers, explosion, tearing apart on account of centrifugal force, short circuit, storm or other cause not specifically excluded. Machinery insurance is important for everyone who operates Machinery i.e both large and small enterprises where a Machinery failure may have serious financial and economic consequence. All types of Machinery, plants, Mechanical Equipment and Apparatus are covered. Examples are power generating plants (Boilers, Turbines, and Generators), power Distribution Plants (Transformers, High & Low Tension equipment), Production Machinery in Factories and Ancillary equipment like Elevators etc
This insurance is important for everyone who operates the machines. This policy should support our property insurance and hence this insurance must not be granted on a stand- alone basis.