Breakdown of equipment insurance covers losses, which have been caused in case of any sudden and unexpected damage to equipment being operated, as well as if it is demounted, removed or installed. As well as losses caused by internal explosion or decay of equipment.
This policy can cover equipment, turbines, boilers, generators, condensers, shredders, pumps, saws, lathes, sawmills, cranes, compressors, transformers, engines, presses, printing machines, robots, etc.
Main risks, which are covered by breakdown of equipment insurance:
internal explosion or decay under influence of internal pressure;
internal decay or breakdown under influence of centrifugal force;
cracking;
overheating;
seizing;
short circuits and melting caused as a result of short circuit or overvoltage;
defects or production omissions of design of equipment, materials or manufacturing;
incorrect operation of equipment;
accidental personal accidents at work.