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Machinery Breakdown Insurance
Let insurance pay for repairing your machines.
Trusted by:
Policy Covers:
- Repair costs for machinery damaged by mechanical or electrical failure.
- Replacement costs for irreparable machinery.
- Loss of income due to machinery breakdown.
Trusted by:
Pay ₹7,000* per yearand get ₹50 Lacs coverage
By clicking on "Continue", you agree to our Privacy Policy as well as our Terms of Use and Disclaimer
Machinery Breakdown Insurance
Let insurance pay for repairing your machines.
Pay ₹7,000* per yearand get ₹50 Lacs coverage
By clicking on "Continue", you agree to our Privacy Policy as well as our Terms of Use and Disclaimer
Trusted by:
Policy Covers:
- Repair costs for machinery damaged by mechanical or electrical failure.
- Replacement costs for irreparable machinery.
- Loss of income due to machinery breakdown.
Trusted by:
What is Machinery Breakdown Insurance?
Machinery Breakdown Insurance covers the cost of repairing or replacing machinery and equipment that suffers sudden and accidental damage. It ensures businesses can quickly recover from equipment failures, minimizing downtime and financial loss.
Who needs Machinery Breakdown Insurance cover?
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹700 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹700 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹700 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹700 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹700 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹700 Cr
Why do you need Machinery Breakdown Insurance?
Why do you need Machinery Breakdown Insurance?
Business Continuity
Ensures operations continue smoothly by covering repair costs and minimising downtime.
Cost Savings
Reduces financial impact of sudden equipment failures, preserving capital for other business needs.
Risk Management
Protects against unpredictable machinery breakdowns, mitigating potential disruptions to production or services.
Equipment Protection
Safeguards investments in machinery and equipment from repair or replacement expenses due to breakdowns.
Insurance Requirement
Often required by lease agreements or lenders to protect financed or leased equipment assets.
Why choose BimaKavach to protect your business?
The Power of Underwriting
Your Policy is built for your unique needs.
Best Price for Complete Coverages
You get the best price for your coverage.
24*7
Claims Support
All concerns will be addressed without delay.
Online Platform to Manage Your Bima
Your policy can be managed from anywhere.
Dedicated
Bima Expert
You get access to IRDAI-Certified Bima Experts.
Who’s this for?
Coverages
Repair Costs
Covers expenses for repairing machinery damaged by sudden and accidental breakdowns, including parts and labor costs.
Replacement Costs
Pays for replacing machinery that cannot be repaired due to breakdowns covered under the policy terms.
Temporary Hire Costs
Reimburses expenses for hiring substitute machinery while the insured equipment is undergoing repair or replacement.
Business Interruption
Provides coverage for loss of income and extra expenses incurred due to machinery breakdowns affecting business operations.
Spoilage
Covers financial losses caused by perishable goods spoilage due to machinery breakdowns in food processing or storage facilities.
Professional Fees
Includes fees for professional services required to assess and rectify machinery breakdowns, such as engineering consultations.
Contingent Damage
Covers damage to other machinery or property resulting from the breakdown of insured equipment.
Express Freight
Covers additional costs for expedited transportation of replacement parts to minimise downtime during machinery repairs.
Accidental Damage
Covers accidental physical damage to machinery that occurs during operation or maintenance activities.
Operational Testing
Covers expenses for testing and commissioning repaired or replaced machinery to ensure proper functioning.
Exclusions
Gradual Wear and Tear
Excludes coverage for deterioration or wear and tear of machinery over time without sudden and accidental damage.
Improper Maintenance
Damage caused by inadequate maintenance or neglect of machinery upkeep is typically excluded from coverage.
Manufacturer’s Defects
Excludes losses resulting from inherent defects or faulty design of machinery, unless specifically covered.
Consequential Loss
Excludes financial losses resulting from machinery breakdowns, such as loss of market or goodwill.
Losses Not Reported Promptly
Excludes coverage if the insured fails to report machinery breakdowns promptly according to policy requirements.
Use Beyond Design Limits
Excludes damage caused by operating machinery beyond its specified design or operational limits.
Nuclear Risks
Damage caused by nuclear reactions, radiation, or radioactive contamination is typically excluded from coverage.
Unauthorized Modifications
Excludes losses caused by alterations or modifications to machinery made without manufacturer or insurer approval.
War and Terrorism
Excludes losses caused by war, acts of terrorism, civil commotion, or military actions.
Cyber Attacks
Damage or losses caused by cyber attacks or hacking incidents affecting machinery operations are generally excluded.
Repair Costs
Covers expenses for repairing machinery damaged by sudden and accidental breakdowns, including parts and labor costs.
Replacement Costs
Pays for replacing machinery that cannot be repaired due to breakdowns covered under the policy terms.
Temporary Hire Costs
Reimburses expenses for hiring substitute machinery while the insured equipment is undergoing repair or replacement.
Business Interruption
Provides coverage for loss of income and extra expenses incurred due to machinery breakdowns affecting business operations.
Spoilage
Covers financial losses caused by perishable goods spoilage due to machinery breakdowns in food processing or storage facilities.
Professional Fees
Includes fees for professional services required to assess and rectify machinery breakdowns, such as engineering consultations.
Contingent Damage
Covers damage to other machinery or property resulting from the breakdown of insured equipment.
Express Freight
Covers additional costs for expedited transportation of replacement parts to minimise downtime during machinery repairs.
Accidental Damage
Covers accidental physical damage to machinery that occurs during operation or maintenance activities.
Operational Testing
Covers expenses for testing and commissioning repaired or replaced machinery to ensure proper functioning.
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When can I Claim?
A claim under Machinery Breakdown Insurance can be registered in the below circumstances:
- Machinery suffers sudden and accidental breakdowns
- Necessary repair or replacement of machinery
- Breakdowns lead to business interruption
- Incur additional costs for hiring substitute machinery
Claim what’s yours with BimaKavach
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