Machinery and Equipment used in various industries are exposed to risks of unforeseen and sudden mechanical or electrical breakdown resulting in loss or damage. Such losses may be repairable or sometimes need replacements.

AWNIC’s Machinery Breakdown Policy is designed to cover Machinery, Plant & Equipment in process industries, factories, engineering work-shops etc., against loss or damage due to electrical or mechanical breakdown, such as defects in casting and material, faulty design, bad workmanship, physical explosion, tearing apart on account of centrifugal force, short circuit, vibration, mal-adjustment, misalignment etc. except those specifically excluded under policy terms.

Sum insured for this insurance should be the replacement cost including freight, duty, cost of erection and other dues. If the sum insured is found to be inadequate, our policy will pay in such proportion as the sum actually insured bears to the sum actually should have been insured.

Premium rate is influenced by factors such as values, type, make, model and age, nature and type of industry where used, experience of the industry, loss history.