Personal Insurance Services from Tata AIG
Small Business
Corporate Insurance
Rural Insurance
Private Client Group Insurance
General Insurance Agents
Vehicle Insurance
Health Insurance
Travel Insurance
Fire & Engineering Insurance
Marine Insurance
Financial Liabilities Insurance
General Liabilities Insurance
 
 
Boiler and Machinery
Equipment breakdown has the potential to stop business activities, with serious consequences to company's bottom line. Boiler & machinery coverage, often referred to as Machinery Breakdown Insurance offers protection against these types of losses. The coverage is available on a stand-alone basis to cover Electrical and Mechanical breakdown, Breakdown risk for Electronic equipments and explosion / collapse, risk for Boiler/ Pressure vessels.

Covered equipment can include, but is not limited to: Gas and Steam Turbines; Engines, Pumps and Compressors; Electric Motors, Generators and Transformers; Switchboards and other electrical apparatus; Refrigeration and Air conditioning equipments; Computers / servers / Printers; Steam Boilers & Pressure vessels
  
Key Features
 
  • Machinery Breakdown
  • Boiler & Pressure Plant
  • Electronic Equipment
  • Machinery Loss Of Profits
 
Machinery Breakdown Insurance
 
Coverage:
  • Physical loss or damage to machinery and equipment against unforeseen and sudden physical loss of, or
  • Damage to the insured items, necessitating their repair or replacement, other than specified excluded perils.
  • Cover is valid during the time the machinery is in operation or rest or in the process of dismantling, overhauling or during subsequent re-erection at the same premises.
Add Ons
  • Air Freight
  • Express Freight (excluding Air Freight), Overtime and Holiday Wages
  • Insured’s Own Surrounding Property
  • Escalation of sum insured
  • Third Party Liability
Major Exclusions :
  • Loss, damage and/or liability caused by or arising from or in consequence, directly or indirectly of fire including extinguishment of a fire or clearance of debris and dismantling necessitated thereby, smoke, soot, aggressive substance, lightning, explosion of any kind (other than bursting or disruption of turbines, compressors, cylinders of steam engines, hydraulic cylinders or fly wheels or other apparatus subject to centrifugal force, internal pressure) theft, collapse of buildings, subsidence, landslide, rockslide, water which escapes from water containing apparatus, flood, inundation, storm, tempest, earthquake, volcanic eruption or other Acts of God, impact of land borne or waterborne or airborne craft or other aerial devices and/or articles dropped therefrom.

    Any loss or damage by fire within the electrical appliances and installation insured by this Policy arising from or occasioned by overrunning, excessive pressure, short circuiting, arcing, self heating or leakage of electricity, from whatever cause (lightning included), is covered; provided that this extension shall apply only to the particular electrical machine; apparatus fixture fitting or portions of the electrical installation so affected and not to other machines, apparatus, fixtures fittings or portions of the electrical installation which may be destroyed or damaged by fire so set up.
  • Loss damage and/or liability caused by or arising from or in consequence, directly of –
  1. War, invasion, Act of foreign Enemy, Hostilities or war like operations (Whether war be declared or not). Civil war, rebellion, revolution, Insurrection, Mutiny, Riot, Strike, Lockout and Malicious Damage, Civil Commotion, Military or Usurped Power, Martial Law, Conspiracy Confiscation, Commandeering by a group of malicious persons or persons acting on behalf of or in connection with any political Organisation, Requisition or Destruction or damage by order of any Government de-jure or de facto or by any Public, Municipal or Local Authority.
  2. Nuclear reaction, nuclear radiation or radioactive contamination
  • Accident, Loss, damage/and/or liability resulting from over load experiments or tests requiring the imposition of abnormal conditions.
  • Gradually developing flaws, defects, cracks or partial fractures in any part not necessitating immediate stoppage, although at some future time repair or renewal of the parts affected may be necessary
  • Deterioration of or wearing away or wearing out any part of any machine caused by or naturally resulting from normal use or exposure
  • Loss, damage and/or liability caused by or arising out of the willful act to willful neglect or gross negligence of the insured or his responsible representatives
  • Liability assumed by the insured by agreement unless such liability would have attached to the insured notwithstanding such agreement.
  • Loss, damage and/or liability due to faults or defects existing at the time of commencement of this insurance and known to the insured or his responsible representative but not disclosed to the Company.
  • Loss of use of the Insured's plant or property of any other consequential loss incurred by the Insured.
  • Loss, damage/and/or liability due to explosions in Chemical Recovery Boilers, other than pressure explosions for e.g. smelt, chemical, ignition, Explosions etc
Deductibles:
A compulsory excess is chargeable, depending upon the value of the insured machinery.
Premium:
The rate depends upon the type of machinery to be insured. You can get discounts in respect of stand-by facility, availability of spares and favourable claims experience.
Boiler & Pressure Plant Insurance
 
The Boiler and Pressure Plant Insurance policy provides coverage for all types of boilers and / or other pressure plants.
Coverage:
  • Sudden / accidental explosion and collapse risks to insured boilers / pressure plants.
  • Insured's own surrounding property and third party liability, arising out of a sudden and unforeseen physical loss of, or damage due to explosion or collapse of the boiler and / or pressure plant.
Add Ons :
  • Express freight (excluding airfreight), Overtime and Holiday rates of wages.
  • Airfreight
  • Owner’s Surrounding Property
  • Third Party Liability
  • Additional Customs Duty
Major Exclusions :
  • Loss damage and/or liability caused by or arising from or in consequences, directly or indirectly of Fire (arising from explosion or collapse or any other cause whatsoever) including extinguishment of a fire or clearance of debris and dismantling necessitated thereby, smoke, soot, aggressive substance lightning, theft, collapse of buildings, subsidence, landslide, rockslide, water which escapes from water containing apparatus, flood, inundation, storm, tempest, earthquake, volcanic eruption or other Acts of God, impact of land borne, waterborne, or airborne craft or other aerial devices and/or articles dropped therefrom.
  •  a)  War Invasion, Act of Foreign Enemy, Hostilities or War like operations (whether war be declared or not), Civil War, Rebellion, Revolution, Insurrection, Mutiny, Riot, Strike, Lock out and Malicious Damage, Civil Commotion, Military or Usurped power, Martial law, Conspiracy, Confiscation, Commandeering a group of Malicious Person or persons acting on behalf of or in connection with any Political Organisation. Requisition or Destruction or damage by order of any Government dejure or defacto or by any Public, Municipal or Local Authority.

    b)  Nuclear reaction, nuclear radiation or radioactive contamination.
  • Accident loss damage and/or liability resulting from overload experiments or tests requiring the imposition of abnormal conditions.
  • Gradually developing flows, defects, cracks or partial fractures in any part not necessitating immediate stoppage although at some future time repair or renewal of the parts affected may be necessary.
  • Defects due to the wearing away or the wasting of the materials of a Boiler or a Pressure Plant whether by leakage, corrosion or by the action of the fuel or otherwise the grooving or the fracturing of any of the parts of a Boiler or pressure plant or for deterioration generally or for the development of cracks blisters, lamination and other flaws or fractures, failures of joint within the range of steam or feed pipes, or for bulging and deformation due to overheating of tubes (unless such defects, fracture, failure or bulging result in explosion or collapse) or for the cracking of section of cast-iron heating boilers or other vessels constructed of cast iron.
  • The failure of individual tubes in Boilers of the water tube locomotive or other multitubular types, in Super heaters or in Economizers (unless such defects result in explosion or collapse).
  • Loss or damage to the insured plant or property and/or liability arising during and occasioned by the application of steam hydraulic or any other test of this plant as specified by Inspecting Authority or otherwise.
  • Loss or damage and/or liability caused by or arising out of the wilful act or wilful neglect or gross negligence of the insured or his responsible representatives.
  • Liability assumed by the Insured by agreement unless such Liability would have attached to the Insured not withstanding such agreement.
  • Loss or damage and/or liability due to faults or defects existing at the time of commencement of this Insurance and known to the Insured or his responsible representatives but not disclosed to the Company.
  • Loss of use of the Insured's plant or property or any other consequential loss incurred by the Insured.
  • Loss or damage for which the manufacturer or supplier or repairer of the property is responsible either by law or under contracts.
In any action, suit or other proceeding where the company alleges that by reason of the exceptions or exclusions above any loss destruction, damage or liability is not covered by this insurance, the burden of proving that such loss destruction, damage or liability is covered shall be upon the Insured.
Deducitbles:
The policy is subject to a compulsory excess.
Premium:
Premium depends upon Type of Boiler and Age of Boiler
Electronic Equipment Insurance
 
The Electronic Equipment Insurance policy provides comprehensive coverage for electronic equipment.
Coverage:
  • Accidental and unforeseen physical loss or damage to electronic equipments and data media.
  • This policy can be extended to include additional costs the insured shall incur to ensure continued data processing on substitute equipment if such costs arise as an unavoidable consequence, of an indemnify-able loss or damage, during the period of insurance, to property insured under the material damage section of the policy.
Major Exclusions :
  • War, Invasion, Act of foreign Enemy, Hostilities or War Like operations (whether war be declared or not), Civil War, Rebellion Revolution, Insurrection Mutiny, Civil Commotion, Confiscation, Commandeering a Group of Malicious persons or persons acting on behalf of or in connection with any political organisation, requisition or destruction or damage by order of any government de-jure or de-facto or any public, municipal or local authority.
  • Nuclear Reaction, Nuclear radiation or radioactive contamination
  • Willful act or willful negligence of the Insured or his representative.
  • Cessation of work whether total or partial.
  • Cost Incurred/time involved in the movement of machinery and/or any other property and/or personnel outside the territorial limits of India other than the cost of delivery of replacements for machinery lost or damaged.
  • Derangement of the Insured property not accompanied by damage otherwise covered by this policy.
  • Loss of or damage to the property covered under this policy falling under the terms of the Maintenance Agreement.
  • Loss destruction or damage directly occasioned by pressure wave caused by aircraft and other aerial devices traveling at Sonic or Supersonic speeds.
  • loss or damage caused by any faults or defects existing at the time of commencement of the present insurance within the knowledge of the insured, or his representatives, whether such faults or defects were known to the company or not
  • loss or damage as a direct consequence of the continual influence of operation (e.g. wear and tear, cavitations, erosion, corrosion, incrustation) or of gradual deterioration due to atmospheric conditions;
  • any costs incurred in connection with the elimination of functional failures unless such failures were caused by an indemnifiable loss of or damage to the insured items
  • loss or damage for which the manufacturer or supplier of the insured items is responsible either by law or under contract;
  • loss of or damage to rented or hired equipment for which the owner is responsible either by law or under a lease and/or maintenance agreement;
  • loss of or damage to bulbs, valves, tubes, ribbons, fuses, seals, belts, wires, chains, rubber tyres, exchangeable tools, engraved cylinders, objects made of glass, porcelain or ceramics sieves or fabrics, or any operating media (e.g. lubricating oil, fuel, chemicals)
  • consequential loss or liability of any kind or description
  • aesthetic defects, such as scratches on painted polished or enamelled surfaces
  • any costs arising from false programming, punching, labeling or inserting, inadvertent canceling of information or discarding of data media, and from loss of information caused by magnetic fields;
  • Costs for replacement of data media, data and regeneration of data
  • Costs for replacement of data media, data and regeneration of data
  • Costs arising out of circumstances, which are not connected with the insured material damage. In particular the Company shall not be liable for additional costs arising out of –
  1. bodily injuries
  2. orders or measures imposed by any public authority
  3. expansion and improvements of the equipments
  4. Lack of funds causing delay in repairs or replacement of damaged equipments
Deductibles :
The policy is subject to a compulsory excess which depends upon the value of the equipment insured.
Premium :
Premium depends upon value, nature and use including maintenance agreement and provisions of equipments.
Contractor's Plant & Machinery
 
The Contractor’s Plant & machinery policy covers all the construction machinery or equipments being used at a construction site against any unforeseen and sudden physical loss of, or damage to the insured items, necessitating their repair or replacement, other than specified excluded perils.
Coverage :
  • Fire, lightning etc
  • Burglary, theft, riot / strike/ malicious damage & terrorism
  • Earthquake, flood storm, tempest, hurricane, typhoon, tornado, subsidence, landslide, rockslide etc
  • Faulty handling, damage due to falling, dropping and impact etc
Add ons :
  • Express freight (excluding air freight), overtime and holiday rates of wages
  • Air freight
  • Owner’s surrounding property
  • Clearance and removal of debris
  • Additional customs duty
  • Escalation
  • Third party Liability
  • Earthquake
  • Floater Cover
  • Act of terrorism
Major Exclusions :
  1. loss or damage due to electrical or Mechanical breakdown, failure, breakage or derangement, freezing of coolant or other fluid, defective lubrication or lack of oil or coolant, but if as a consequence of such breakdown or derangement an accident occurs causing external damage, such consequential damage will be indemnifiable.
  2. loss of or damage to replaceable parts and attachment such as bits, drills, knives or other cutting edges, saw blades dies, moulds, patterns, pulverizing and crushing surfaces, screens and sieves, ropes, belts, chains, elevator and conveyor bands, batteries, tyres, connecting wires and cables, flexible pipes, joining and packing material regularly replaced
  3. loss or damage due to explosion of any boiler or pressure vessel subject to internal steam or fluid pressure or of any internal combustion engine
  4. loss of or damage to vehicles designed and licensed for general road use unless these vehicles are exclusively used on construction site
  5. loss of or damage to Hull and machinery of waterborne vessels or crafts, however this exclusion shall not apply to Contractors Plant and machinery mounted on water borne vessels or crafts for the purpose of use for the contract work.
  6. loss or damage due to total or partial immersion in tidal waters;
  7. loss or damage whilst in transit, from one location to another location. (Public Liability will not be payable while Contractors Plant & Machineries are on Public Roads).
  8. loss or damage as a direct consequence of the continual influence of operation (e.g. wear and tear, corrosion, rust, deterioration due to lack of use and normal atmospheric conditions)
  9. loss or damage occurring whilst any insured item is under- going a test of any kind or is being used in any manner or for any purpose other than that for which it was designed
  10. loss of or damage to plant and/or machinery working underground
  11. War, Invasion, act of foreign enemy, hostilities or war like operation (whether war be declared or not), Civil War, Rebellion Revolution Insurrection, Mutiny, Civil Commotion, Military or usurped power, martial law, conspiracy, confiscation, commandeering a group of malicious person or persons acting on behalf of or in connection with any political organisation, requisition or destruction or damage by order of any government de jure or de facto or by any public, Municipal or Local Authority.
  12. loss or damage directly or indirectly caused by, or arising out of, or aggravated by nuclear reaction, nuclear radiation or radioactive contamination.
  13. loss or damage due to any faults or defects existing at the time of commencement of this policy within the knowledge of the insured or his representatives, whether such faults or defects were known to the Company or not
  14. loss or damage directly or indirectly caused by, or arising out of or aggravated by the willful act or willful negligence of the insured or his representatives
  15. loss or damage for which the supplier or manufacturer is responsible either by law or under contract
  16. consequential loss or liability of any kind or description;
  17. loss or damage discovered only at the time of taking an inventory or during routine servicing.
Deductibles:
The excesses under CPM policy depend on the Sum Insured of the individual machine, the type of machine and whether the claim is due to an Act of God peril or otherwise.
Premium:
The premium depends on the type of equipment, risk, location(s) and use of the equipment.
Machinery Loss of Profits
 
This policy covers consequential losses arising out of unforeseen accidental physical loss or damage to machinery/boiler. The concerned machinery, boiler however, should be covered under a machinery breakdown / boiler explosion policy and the admission of a claim under the material damage policy is a prerequisite for admission of a claim under the loss of profits policy.
Coverage
The coverage includes indemnity during business interruption arising from:
  • Reduction in turnover
  • Increase in cost of working
Major Exclusions
  • Willful act or willful neglect or gross negligence of the insured or his responsible representatives
  • Loss or damage to machinery or other items which are not listed in the list of machinery insured even if the consequence of material damage to an item indicated in the list of machinery insured is involved
  • Loss or damage caused by any faults or defects existing at the time of commencement of this insurance within the knowledge of the insured or his responsible representatives whether such faults or defects were known to the Company or not
  • Shortage, destruction, deterioration and spoilage of or damage to raw materials, semi finished or finished products or catalyst or operating media (such as fuel, lubricating oil, refrigerant, heating media and the like) even if the consequence of material damage to an item indicated in the list of machinery insured is involved
  • Any restrictions on reconstruction or operation imposed by any public authority.
  • An extension of the normal repair period for more than 4 weeks on account of -
  1. the inability to secure or delays in securing replacement parts, the inability to secure or delays in securing replacement parts
  2. the inability to carry or delays in carrying out repairs.
  3. the prohibition to operate the machinery due to import and/or export customs & other restrictions or by statutory regulations
  4. transport of parts to and from the Insured’s premises
  • Alterations improvements or overhauls being made while repairs or replacements of damaged or destroyed property are being carried out
  • Loss damage and/or liability caused by or arising from or in consequence directly or indirectly of-
  1. War, Invasion, Act of foreign enemy, hostilities or War like operations (whether war be declared or not), Civil War, Rebellion, Revolution, Insurrection, Mutiny, Riot, Strike, Lockout and Malicious Damage, Civil Commotion, Military or usurped power, martial law, conspiracy, confiscation, commandeering a group of malicious person or persons acting on behalf of or in connection with any political organisation, requisition or destruction or damage by order of any government de jure or de facto or by any public. Municipal or Local Authority, an act of terrorism or the action of any lawfully constituted authority in suppressing or attempting to suppress or minimise the consequences thereof.
  2. Nuclear reaction, nuclear radiation or radioactive contamination.
Deductibles
A compulsory excess is chargeable
Premium
The rate depends upon Gross Profit, Indemnity period
Please refer policy wordings for complete list of detailed exclusions.

Disclaimer: The actual benefits available are as described in the policy, and will be subject to the policy terms, conditions and exclusions. Please seek the advice of your insurance advisor/ contact our branch if you require any further information or clarification.
Need Help?
 
Buy Service
 **I hereby authorize Tata AIG General Insurance Company Limited to contact me.
It will override my registry on the DNCR.

Call us on our 24x7 Toll Free helpline 1800-266-7780
OR
SMS `TAG` to 5616181
Write to us at customersupport@tata-aig.com or click here to give us your feedback.