This policy is usually for Machinery and Plant being used in the Cold Storage, Food Processing and other similar type. The machinery and plants are always exposed the risks of breaking down due to unforeseen and sudden causes. These could be electrical, mechanical or others. The policy provides with a financial protection against losses or damages to Electrical or Mechanical machinery, Process plant and equipment in factories. Losses or damages can be caused by:
The main elements of the cover are related to Electrical and Mechanical breakdown & Accidental damage from extraneous causes.
Usual duration of the policy is 12 months.