Insurance of machinery and equipment
Coverage on «all risks» basis covers all cases of damage or destruction of property, except for the exclusions specifically stipulated in the insurance contract.
Coverage against risks specified in the insurance contract, the most common of which are:
- Unforeseen breakdowns or defects
- Errors, negligence or carelessness of personnel
- Breakage of cables and chains, falling of insured objects and their impact on other objects
- Overloading, overheating, vibration, jamming, clogging of the mechanism; foreign objects, pressure changes, «mechanism fatigue»
- Explosion of steam boilers, internal combustion engines and other energy sources
- Breakdowns or malfunctions of devices
- Fire risks
- Water damage
- Natural disasters
- Unlawful acts of third parties, including theft, robbery and assault
- Production equipment, machinery and tools
- Compressor units
- Machine tools
- Gas or steam turbines, steam boilers, boilers, industrial transformers, generators, etc.
Benefits of insurance in INGO
Experience and broad capabilities
Reliable insurance coverage
Control of risk management
Additional coverage is available upon request (the list is not exhaustive):
- sudden power outage from power supply systems
- failure of air conditioning systems
- ordinary theft (without breaking and entering)
- use of the insured equipment for experimental or research purposes
- costs of cleaning the territory after the insured event
- losses and expenses to prevent the destruction of equipment
INGO’s level of financial stability
outlook - "Evolving"
Frequently asked questions
The basis for determining the sum insured shall be the actual or replacement cost of the insured machinery and equipment. However, another basis may be determined by agreement of the parties.
The standard term of the insurance contract is 1 year, but another term may be determined by agreement of the parties.
Thus, the costs of machinery and equipment insurance are fully included in its gross costs.