Policy snapshot
This policy provides coverage for sudden and unforeseen physical damage to fixed machinery and plant during operations in industrial premises.
What is Machinery Breakdown (MBD) Insurance?
MBD Insurance safeguards machinery from unexpected operational failures and helps industries avoid high repair costs. It ensures minimal production downtime.
What can it cover?
- The policy covers sudden and accidental breakdowns due to mechanical failure, short-circuiting, faulty operations, or internal damage. It covers repair or replacement costs of machinery used in manufacturing. Optional covers include terrorism damage and loss of profits due to machinery downtime.
Who should consider it?
- Manufacturing industries, factories, processing units, Pharma, textiles, food processing, chemical plants, Any business relying on automated or industrial machinery
Key features to understand
- {"heading": "Key Features", "bullets": ["Ideal for running industrial units", "Covers mechanical/electrical breakdowns", "Burglary and fire must be insured separately or as add-ons", "Can be extended to include loss of profits (MLOP)", "Terrorism cover is optional"]}
What deserves attention before you buy?
Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.
Read the wording, not just the brochure
The schedule and policy wording determine the actual contract.
Compare meaningful differences
Look at exclusions, limits, deductibles, conditions and claim requirements—not premium alone.
Think beyond purchase
Servicing and claims-related support can matter as much as placement.