IRDAI License Number: IRDAI/INT/ISNP/2022/250

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Machinery Breakdown Policy
Machinery Breakdown Policy
  • Cover defense cost
  • Legal advice, if required
  • Covernote/Risk Held Letter/Binder Letter Issued immediately after premium payment to the insurance company
  • Get comparative quotes from leading public sector and private insurance companies
Machinery Breakdown Policy
Introduction
Who can take this Policy?
Coverage
Add on Covers
Basis of Sum lnsured
Exclusions
Introduction

Who can take this Policy?

Coverage

Add on Covers

Basis of Sum lnsured

Exclusions

Why Choose PolicyLo.com

Professional and Experienced Team
Professional and Experienced Team
Customized Solutions
Customized Solutions
Strong Relationship With Insurance Companies
Strong Relationship With Insurance Companies
Service Commitment Ontime Everytime
Service Commitment Ontime Everytime
Technological Edge
Technological Edge
Additional Services Offered
Additional Services Offered
Competitive Premium
Competitive Premium
Single Window Solution
Single Window Solution

Important Points to remember while Buying the Policy

Adequate Sum Insured - To Avoid Underinsurance

Ensure the right value on RIV basis and if desired get the proper valuation done to avoid dispute at the time of claim


Ensure that assets should be covered under the right entity/company

Each machine's identification/serial number should be mentioned in the Policy/Annexure


Risk Location/s should be properly mentioned

Spare of all critical parts to be available on site/factory


Downloads
Proposal Form
Proposal Form  
Policy Wordings
Policy Wordings  
Claim Form
Claim Form  
Key Documents
General Claim Intimation Format
General Claim
Intimation Format
Immediate Action Client Should Take
Immediate Action Client
Should Take
Indicative General Documents for Settlement of Claims
Indicative General Documents
for Settlement of Claims

Our Insurance Partners

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Claim Case Study - 1

1
Situation
Situation

A machine used in textile manufacturing unit got burned due to excess voltage. The flams were very high and a nearby machine also caught fire

2
Challenge
Challenge

The machine which got burned due to excess voltage was covered under the MBD policy and the loss to the nearby machine was not covered undre the MBD Policy

3
Solution
Solution

MBD policy covers loss due to fire only due to breakdown, spread of fire is not covered under the MBD Policy

4
Advisory/Conclusion
Advisory/Conclusion

Client should opt for both Fire and MBD Policy

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