Features & Benefits
Requirements: As the owner of a thriving business in an industrial sector, you know that your machinery is at the heart of your business. Day in and day out your machines manufacture goods to sell and provide you with the income you need. Should any damage or breakdown occur, it will adversely impact your ability to deliver goods on time and hamper the cash flow. Thankfully, our Machinery Loss of Profit Insurance policy will help your business survive such an adversity.
Benefits: When your business is run on machines, a breakdown or damage to your machinery can be devastating. While you repair or replace your equipment, it can result in time lags and monetary losses. Loss of expected profit can cause problems with your carefully planned finances. This policy will compensate for lost profits as well as any charges and expenses you face as a result of normal business operations stopping.
Sum Insured: This is an indemnity policy. The sum insured is based on the anticipated gross profit of your business and also the indemnity period.
Premium: The amount of the premium payable depends on the following factors.
- The time required to replace or replenish the equipment
- Availability of spare equipment
- Criticality of the equipment, relative importance of machinery
- Age of the machinery
Please read the
policy wordings for more information.
*Terms & Conditions apply.