What is Machinery Breakdown Insurance?
This insures the policyholder against damage to machinery (already fixed and in use) caused by breakdown, principally from sources within the Machine.
- Electrical equipment
- Boiler and Pressure Vessels
- Mechanical equipment
- Production Systems
The Machinery Breakdown Insurance covers:
Machinery Breakdown covers the cost to repair or replace the insured equipment and any other property damaged by the equipment breakdown. Resulting business income loss is covered as well.
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At Old Mutual Nigeria, we continuously strive to make insurance more convenient, affordable, and dependable.
- Fire and allied perils
- Make and type of equipment;
- Year of manufacture;
- Current replacement value.
- Non-payment of premiums are considered
- Inability to substantiate the claim
Yes, installments can be made in annual, biannual, or quarterly installments.
No, your policy is not transferable.
A renewal notice will be sent to you before the expiration of the policy.
Your policy document will be ready 24 hours after a certificate has been issued.