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PLANT AND MACHINERY
WHAT IT COVERS
The emergency policy
covers sudden and
unforeseen damage from
any accidental cause
arising out of specific
item of machinery and
plant. Free inspection
service by experts in
arranged to prevent the
occurrence of mishaps.
This insurance is always
grouped under:-
a. MACHINERY BREAKDOWN
This provides indemnity
for an insured against
mechanical breakdown and
damage by extraneous
causes
b. DETERIORATION OF
STOCK
This policy covers
deterioration of stock
like eggs, fish, meats
and other perishable
food items stored in the
cold store as a result
of a breakdown.
c. BOLDER AND PRESSURE
VESSEL EXPLOSION
This similarly provides
indemnity against
damages to the boiler or
other insured items and
damage to allow property
to the insured directly
due to explosion or
collapse of the insured
item. It extends to
cover third party
personal injuries.
PROCEDURE FOR TAKING THE
POLICY
a. Completion of plant
and Machinery proposal
form
b. List of machines
(Items to be covered)
c. Payment of premium
that is computed based
on the value of items to
be covered
d. Policy then issued on
Receipt of premium. |
