Machinery Breakdown (MBD) Insurance

FAQs

• Do you cover faulty design, defective material and workmanship?

  No, any loss or damage to items that are immediately affected by the above are not covered. However, your insurance can be extended to cover any loss or damage to the correctly executed items resulting from an accident that happened because of faulty design, defective material or workmanship.

• Is my travel insurance plan valid on any airline, including “cargo” flights?

  Yes, the insurance is valid on any airline as long as the passenger is assigned a proper seat.

• Is war risk cover compulsory?

  No, it's not. It totally depends on you. But we would say that it is advisable.

• Our stock rotates every month. How will you provide coverage for it?

  So, this is how it goes. You will need to estimate the maximum value of the stock that you may be holding at a particular point of time during the policy. This will be considered as the sum insured and the premium rate is charged based on this amount. 
  
  At the beginning of each month, you will need to declare the highest value of the stock that you were holding during the previous month. The same will be considered as the declaration for that month. At the end of the policy period, the premium is adjusted based on the average monthly declarations provided by the insured.

• We are manufacturing plastics. Can you provide insurance for us?

  To be honest, we don't usually insure plastic factories. However, you can reach out to us and we can come to a decision based on your case.