Machinery Breakdown and Electronics Equipment Insurance

By insuring movable property, your machines and electronics are secured by insurance coverage against complex natural hazards. However, damage of machinery may be also caused by other reasons, such as a machine design error, defect of material or a manufacturing defect. Very often, damage to machinery occurs due to operator error, clumsiness or negligence. Damage can also be caused by lack of water in the equipment, overpressure or underpressure and also short circuit, overvoltage, induction or insulation fault. Measuring, control or safety devices may also fail. It is for these cases and many others serves the insurance of technical risks, which we offer as machinery breakdown and electronic equipment insurance. The insurance covers stationary machines and machinery, mobile working machines and electronic equipment and devices, which have passed the trial, acceptance and performance tests free from any defects and have been put into operation in accordance with the applicable valid regulations.

The insurance covers machinery and electronics during operation, breaks in operation, or relocation within the place of insurance. Any costs of restoring or reinstalling the operating system in the event of damage or destruction are also covered. The insurance of machinery and electronics covers the costs necessary to put the machine into working order as it was before the insured event, the costs of disassembly and assembly of the machine associated therewith, transport of damaged equipment, its parts or spare parts, customs duties and many others.

Insurance coverage

The insurance is based on the all-risks principle, i.e. all risks are covered, except those that have been excluded from the insurance in advance. Please see below an overview of the most common causes of damage to machinery and electronics, which are covered by this insurance:

• short circuit, overvoltage, induction of electric current
• defect of material, structural defect, manufacturing defect
• effects of centrifugal force
• failure of measuring, control or safety devices
• overpressure of steam, gas and liquids
• operator error - incorrect operation, lack of attention and negligence