Machinery Breakdown Insurance
Machinery Breakdown Insurance
It is developed on the basis of the traditional property insurance, specifically covers all kinds of machinery and equipments put into operation in factories and mines, etc referring to sudden and unforeseen physical damage to machinery and equipment due to the characteristic, artificial, accidental or physical cause in the process of running.
 
Subject Matter Insured
All kinds of formal prime mover machinery equipment, manufacturing equipment or tools, mechanical equipment and ancillary equipment, etc., such as generator, transformer, air conditioning equipment and textile machinery etc.
 
Scope of Cover
These property loss and damage caused by unexpected and sudden accidents shall be compensated:
· faulty design, faults at workshop or in erection, defects in casting and material;
· faulty operation, lack of skills, bad workmanship, negligence, faults and malicious acts on the part of workers or technicians;
· tearing apart on account of centrifugal force;
· overloading, overvoltage, electric arc , electrical faults , short-circuit, atmospheric discharge,  inductive electricity and other
   electric phenomena;
· any other events than those enumerated in Exclusions hereinafter.
 
Exclusions
· willful act or gross negligence of the Insured or his representative;
· the insurant and the representative have known or should know the existing shortcomings and demerits of the
  insurance  machinery and ancillary equipments before the start of insurance coverage.
· war, warlike operation, hostilities, armed conflicts, terrorism, conspiracy insurrection, coup d’etat;
· confiscation, requisition, destruction or damage by any action or order of any government de jure or de facto or by any
   public authorities;
· nuclear fission, nuclear fusion, nuclear weapon, nuclear material, nuclear radiation and radioactive contamination;
· physical or chemical reaction such as wear and tear, oxidation, erosion, corrosion, rust or boiler scale as a direct consequence
   of ordinary use or operation;
· failure of supply of electricity, gas, water caused by restriction or willful act of public utilities or by other non-accidental events;
· fire and explosion;
· earthquake, tsunami and secondary disasters so caused;
· thunder and lightning, hurricane, typhoon, tornado, storm, tempest, flood, hailstorm, landslide, rockslide, avalanche,
   volcanic explosion, subsidence of ground and other natural hazards;
· crashing aircraft and parts or articles falling from aircraft and other flying objects;
· impact by the motor vehicle;
· bursting of water tank or pipe;
· consequential loss or damage or liability of any description arising out of an insured accident;
· loss of or damage to belts, ropes, wires, chains, rubber tyres, exchangeable dies, rods, tools, engraved cylinders, sleeve,
   moving pipes, objects made of glass, porcelain, ceramics, felts, sieves or fabrics, all operating media (e.g. lubricating oil,
   fuel, catalysts) and other vulnerable and consumable parts;
· loss or damage or expenses for which the supplier or manufacturer or installer or repairer is responsible either by law or
   under contract;
· any extra expenses incurred due to the alternation, improvement or betterment to the damaged machinery insured during
   the repair or replacement.
· the deductibles calculated by the deductible ratio stated in this Policy. 
 
* For further details, please refer to the insurance clauses.
 

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