HDFC ERGO General Insurance - Products - Engineering

HDFC ERGO General Insurance Company Limited

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machinery breakdown insurance

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Your organization wins a valuable contract, but the delivery schedules are tight and the penalties exacting. Just when everything is going according to plan, something unexpected happens…an employee accidentally inserts the wrong tool and the machine comes to a grinding halt. HDFC ERGO General Insurance Company's Machinery Breakdown Policy provides the ideal safeguard for your organization.

Scope of Cover:

The policy broadly covers loss due to all kinds of accidental, electrical and mechanical breakdowns as a result of internal causes. You are covered during the time the machinery is in operation or at rest or in the process of being dismantled, overhauled or during subsequent re-erection at the same premises. If specifically requested, you can also cover the machinery foundations, masonry, brickwork as well as oil in transformers from unforeseen and sudden physical loss or damage, other than specified excluded perils and forms of damage.

Significant Exclusions:

The policy does not cover loss and/or damage from fire and allied perils, theft, overloading experiments, willful acts or gross negligence, flaws that gradually develop and deterioration from normal use.

Sum Insured:

The value proposed for insurance should be equal to the new replacement cost, including freight, erection cost and customs duty, if any.

Premium:

The rate depends upon the type of machinery to be insured. You can get discounts in respect of stand-by facility, availability of spares and favourable claims experience, subject to the rules laid down in the tariff.

Excess:

A compulsory excess is chargeable, depending upon the value of the insured machinery.

Main Extensions:

    Air freight.

    Express freight (excluding air freight), overtime and holiday wages.

    Insured's own surrounding property.

    Third Party liability.

Download Proposal form   (DOC 435 KB)

Download Claim form   (DOC 435 KB)

For more information, please write to us at care@hdfcergo.com. You can also contact us on our Toll Free No. 1800-2-700-700.

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