MACHINERY-BREAKDOWN INSURANCE

Machinery breakdown insurance is a type of commercial insurance
designed to protect businesses from financial losses caused by
the unexpected breakdown or damage of machinery or equipment.
This coverage can be crucial for businesses that rely heavily on
machinery for their operations.

Typically, this insurance covers:
Sudden and unforeseen physical damage: This includes 
breakdowns caused by mechanical failures, electrical faults, or 
other unexpected events.
Repair or replacement costs: The insurance will cover the
costs of repairing or replacing damaged machinery.
Loss of profits: In some cases, the policy may also cover 
the loss of profits incurred during the period when the machinery
is out of service.
                            
Machinery Breakdowns can be occasioned by;
Mechanical failures: These can include bearing failures,
gear damage, or broken shafts.
Electrical faults: Short circuits, power surges, or faulty 
wiring can lead to breakdowns.
Foreign object damage: Objects that enter the machinery can
cause damage.
Design or manufacturing defects: Flaws in the design or
construction of the machinery can contribute to breakdowns.
                            
While most policies cover a wide range of breakdowns, there are 
typically some exclusions.
These can include:
Gradual wear and tear: Normal wear and tear over time is
not covered.
Neglect or abuse: Damage caused by intentional neglect or
abuse is not covered.
Acts of war or terrorism: These events are typically 
excluded from most commercial insurance policies.

Machinery Breakdown Insurance is beneficial to the policyholders 
in the following ways;
                            
Financial protection: It can help businesses avoid 
significant financial losses due to unexpected breakdowns.
Business continuity: By ensuring timely repairs or replacements,
 it can help businesses maintain their operations.
Peace of mind: Knowing that your machinery is protected can
provide peace of mind for business owners.