What is this type of insurance?
Machine accident insurance provides protection against specific risks that may arise during the normal operation of the insured machinery, equipment and apparatus.
What does the insurance cover?
Direct property losses or damages on the insured machines and equipment from sudden, accidental and unforeseen events occurring during the insurance period, leading to the need for repair or replacement of the machines, as a result of:
- defects in the casting and / or material;
- design errors;
- manufacturing or installation errors;
- insufficient experience and / or lack of relevant qualifications;
- negligence;
- lack of water in boilers;
- physical explosion;
- destruction as a result of centrifugal forces;
- short circuit;
- any other reason, except those explicitly excluded in the terms of the insurance, leading to the need for repair or replacement of the insured machines, or parts of them.
Additional coverage may be provided to the base cover based on a number of different additional clauses. such as costs for speeding up repairs, downtime and more. Insurance coverage Accident of machines is provided only in combination with the coverage under the conditions for insurance of "Property" and cannot be concluded independently.