Salient Features
Almost all stationary capital equipments can be covered under M.I. Policy. The broad categories are two namely - electrical machinery and non-electrical Machinery.

Scope of Cover
Machinery Insurance is against unforeseen and sudden physical damage to the insured machinery from causes such as

• Faulty material, design, construction, erection
• Vibration, maladjustments, misalignment
• Defective lubrication, loosening of parts, molecular fatigue, self heating, explosion due to  internal pressure, implosion due to external pressure or internal vacuum, abnormal stress, centrifugal force.
• Excessive electric pressure, failure of insulation, short circuit, open circuit, or arching including damage by internal fire so set up.
• Failure of connected machinery or protective devices.
• Lack of skill, carelessness or malice of persons, whether insured employee or not.
• Falling, impact, collision and the like.

Sum Insured
The S.I. of each individual item must represent its new replacement value including transportation cost to site, customs dues and other installation cost.

Short Period rates
As per short period rates for motor insurance. 

Policy Excess 
As it will appear in the respective Policy.

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