When a press, compressor, generator or boiler on the production floor is suddenly damaged, the repair bill can weigh heavily on a business. Machinery Breakdown insurance protects machinery and plant in their operational phase against sudden and unforeseen damage caused by operating accidents, manufacturing defects, electrical effects, staff negligence and similar causes.
We list your machinery and its values with you, obtain a quote from Corpus Sigorta and follow the loss adjuster process when a claim occurs. Thanks to Corpus Sigorta's preventive insurance approach, businesses that operate heavy machinery also get a chance to see their risks and take precautions during the quotation process.
What is covered?
- Operating accidents
- Manufacturing and installation defects
- Lubrication failure
- Electrical effects
- Blockage
- Disintegration due to centrifugal force
- Lack of water
- Water hammer and low pressure
- Storm and frost
- Staff negligence
Optional add-on covers
- Mobile machinery
- Extended comprehensive cover
- Earthquake
- Strikes, lock-outs and terrorism
What you should know
This is a Corpus Sigorta product; you can get a quote through our agency.
Machinery Breakdown insurance is for machinery in operation; equipment being installed or tested is covered under Erection All Risks, and computers and electronic systems are mostly covered under Electronic Equipment insurance. Loss of profit caused by a production stoppage after machinery damage is not part of the core cover; if you need it, we look at it separately.
Scope, deductibles and exclusions are set out in the policy's special conditions. Gradual damage such as wear and tear and routine maintenance costs are generally excluded under this type of policy.
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Frequently asked questions
Production line machinery, compressors, generators, transformers, boilers and similar plant can be included. Mobile machinery can be added as an extension. We go through your inventory with you to decide which equipment belongs under which policy.
Commercial property policies focus on external perils such as fire, earthquake and flood. Machinery Breakdown covers damage to the machine from causes such as operating accidents, manufacturing defects, electrical effects or staff negligence. The two policies complement each other.
Shut the machine down safely, avoid running it in a way that could worsen the damage, keep damaged parts until the loss adjuster has inspected them and call us straight away. We notify Corpus Sigorta and follow the adjuster and repair process on your behalf.
The information on this page is for general guidance and does not replace policy wording. Scope of cover, limits, deductibles and exclusions are determined by the general and special conditions of the insurer you choose.