This policy provides breakdown cover to a diverse spectrum of machinery and equipment in commercial/ manufacturing facilities .Covers is given only to machinery/equipment which is mentioned in the policy schedule and are in use or at rest at the covered location. Also cover is extended to machinery which is being dismantled for cleaning / overhauling or in course of these operations, being shifted within covered location or being re-erected subsequently, in covered location.
The Policy pays for unforeseen and sudden physical damage caused to the machinery mentioned in the policy schedule at the covered location due to any perils other than those which are specifically excluded under the policy.
The Company will not be liable under the Policy in respect of loss or damage due to Loss of or damage caused due to Fire, Lightning, Explosion, Theft, Subsidence, Landslide, Flood, Inundation, Storm, Tempest, Earthquake and Volcanic Eruption or any other Act of God perils. War, Nuclear Perils Over load experiment or test requiring the imposition of abnormal conditions Gradually developing flaws, defects, cracks or partial fractures Deterioration of or wearing away / out of any part of machinery Wilful or gross negligence of insured Faults or defects existing at the time of inception of policy Consequential Loss Excess stated in the Schedule Damage for which the manufacturer or supplier or repairer of the property is responsible either by law or contract.