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Industrial Insurance

Electronic Equipment

Scope of Cover

This policy offers you protection in case your electronic equipment suffers accidental loss or Damage. The policy covers sudden and unforeseen physical damage including breakdown to the electronic equipment covered under the policy due to any reason not specifically excluded. This policy covers entire range of Electronic Equipment's from a Personal Computer to sophisticated gadgetry.

Generally equipment covered comes under following categories:

  • Computers or Electronic data processing machine
  • Office calculators, duplicating machines and Reproduction machines like fax, copiers, etc.
  • Telecommunication equipment
  • Transmitting and receiving installations like servers
  • Material testing and research equipment
  • Electro-Medical Installations
  • Control and supervisory units

Loss of damage caused by the following perils is specifically excluded from the scope of the policy.

  • Normal wear and tear and corrosion of parts arising from use and continuous operation (limited to parts immediately affected, subsequent damage to other parts of the unit covered.
  • War, wilful acts, gross negligence
  • Faults for which third party is responsible by law or contract
  • Failure due to interruption of gas, water or power supply.
  • Aesthetic defects.
  • Consequential loss of any kind.
  • Loss to consumables and operating media etc.

The policy covers sudden and unforeseen physical damage including breakdown to the electronic equipment covered under the policy due to any reason not specifically excluded

Thus it covers damage caused by the following perils:

  • Smoke, soot, dust, corrosive gases etc
  • Water and Humidity
  • Short circuit and Electrical fire risk
  • Faulty operations, lack of skill
  • Falling object and entry of foreign bodies
  • Fire, lightning, explosion
  • Riot and strike and malicious damage and terrorism
  • Theft and burglary
  • Natural calamities – flood, inundation, storm, cyclone and earthquake
  • Subsidence, landslide, rockslide


  • War & Nuclear Risks
  • Willful Act / Negligence
  • Partial / Total cessation of Work
  • Normal wear & tear
  • Gradual deterioration due to atmospheric conditions
  • Loss or damage due to faulty design
  • Contractual liabilities
  • Consequential Losses

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Machinery Breakdown

Scope of Cover

This is a policy, which covers physical loss or damage to machinery and equipment against unforeseen and sudden, physical loss of, or damage to the insured items, necessitating their repair or replacement, other than specified excluded perils. Monetary costs involved for restoration of machine after breakdown to its original state are covered by the machinery (breakdown) insurance policy. Cover is valid during the time the machinery is at work or at rest. Machinery being dismantled for cleaning / overhauling and in course of these operations being shifted within specified premises or being re-erected subsequently is also covered.

The policy covers all kinds of electrical and mechanical breakdown subject to the following exclusions:

  • Faulty material/workmanship of the machine
  • Action of centrifugal forces contributing to disruption of the rotating parts
  • Failure of lubrication due to malfunctioning of lubricating oil pumps or its breakdown
  • Malfunctioning or failure of safety devices
  • Electrical short-circuiting including electrical fire originating from failure of insulation and or over voltage or under voltage conditions.
  • Abrupt and sudden stoppage of other connected machinery.
  • Entry of foreign bodies into running machine
  • Inexperienced operations causing damage due to error of judgment or error in operation

Sum Insured

The sum insured should represent the present day replacement value of the insured item, which includes all incidental expenses like custom duties, taxes, excise, freight, insurance charges, handling charges etc. In case the sum insured under the policy is less than as per the above requirement the claim will be paid only in such proportion as the sum insured bears to the current replacement cost of similar new machinery.


  • Willful act / negligence
  • Fire and related perils
  • Damage to electrical apparatus only subsequent to short circuit.
  • Overload experiments / tests / abnormal operating conditions.
  • Gradual flaws / defects not necessita