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Machinery Loss of Profit Insurance
Protect your balance sheet from losses from machinery breakdown
Trusted by:
Policy Covers:
- Lost profits due to machinery breakdown and business interruption.
- Fixed expenses, like wages and rent, during machinery repair period.
- Costs for temporary replacement machinery to maintain operations.
Trusted by:
Pay ₹7,000* per yearand get ₹50 Lacs coverage
By clicking on "Continue", you agree to our Privacy Policy as well as our Terms of Use and Disclaimer
Machinery Loss of Profit Insurance
Protect your balance sheet from losses from machinery breakdown
Pay ₹7,000* per yearand get ₹50 Lacs coverage
By clicking on "Continue", you agree to our Privacy Policy as well as our Terms of Use and Disclaimer
Trusted by:
Policy Covers:
- Lost profits due to machinery breakdown and business interruption.
- Fixed expenses, like wages and rent, during machinery repair period.
- Costs for temporary replacement machinery to maintain operations.
Trusted by:
What is Machinery Loss of Profit Insurance?
Machinery Loss of Profit Insurance (MLOP) covers financial losses incurred due to unexpected machinery breakdowns. It protects businesses from reduced income and increased operational costs during repair periods, ensuring continuity by compensating for lost profits and additional expenses arising from machinery failures..
Who needs Machinery Loss of Profit Insurance cover?
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹700 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹700 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹700 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹700 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹700 Cr
Annual Turnover
₹0 Cr-₹300 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹500 Cr
Annual Turnover
₹0 Cr-₹100 Cr
Annual Turnover
₹0 Cr-₹1,000 Cr
Annual Turnover
₹0 Cr-₹700 Cr
Why do you need Machinery Loss of Profit Insurance?
Why do you need Machinery Loss of Profit Insurance?
Protects against Income Loss
MLOP Insurance ensures business continuity by covering income loss from unexpected machinery breakdowns, maintaining stability and operations.
Covers Additional Expenses
Reduces financial strain by covering operational expenses during machinery repairs, ensuring smooth business operations.
Compensates for Lost Profits
Helps maintain financial health by compensating for lost profits during downtime, ensuring employee salaries and business stability.
Mitigates Financial Risks
MLOP Insurance helps businesses recover quickly from significant financial losses caused by machinery breakdowns, ensuring efficient operation.
Enhances Business Resilience
Provides comprehensive coverage against machinery breakdowns, enhancing long-term business resilience and operational stability.
Why choose BimaKavach to protect your business?
The Power of Underwriting
Your Policy is built for your unique needs.
Best Price for Complete Coverages
You get the best price for your coverage.
24*7
Claims Support
All concerns will be addressed without delay.
Online Platform to Manage Your Bima
Your policy can be managed from anywhere.
Dedicated
Bima Expert
You get access to IRDAI-Certified Bima Experts.
Who’s this for?
What does Machinery Loss of Profit Insurance cover and exclude?
Coverages
Business Interruption
Compensates for lost income due to machinery breakdowns, ensuring financial stability during repair periods.
Additional Expenses
Covers extra costs incurred to minimise interruption and maintain operations during machinery repair or replacement.
Temporary Equipment Rental
Reimburses expenses for renting substitute machinery while the insured equipment is out of service.
Employee Wages and Salaries
MLOP Insurance covers payroll expenses to retain staff during downtime caused by machinery breakdowns.
Loss of Gross Profit
Compensates for the reduction in gross profit due to decreased production or service capacity after machinery breakdowns.
Increased Cost of Working
MLOP Insurance covers additional costs of expedited production or alternative arrangements to mitigate the impact of machinery breakdowns.
Auditor's Fees
Pays for fees associated with verifying and assessing the financial impact of machinery breakdowns on business operations.
Contingent Business Interruption
Extends coverage to losses incurred from disruptions at suppliers or customers due to machinery breakdowns affecting business operations.
Express Freight
MLOP Insurance covers costs for expedited delivery of replacement parts to minimise downtime during machinery repairs.
Professional Consultation
Includes fees for specialised advice or consultations necessary to manage and mitigate the impact of machinery breakdowns.
Exclusions
Gradual Wear and Tear
Excludes losses due to normal wear and tear or deterioration of machinery over time.
Pre-existing Conditions
Damage or breakdowns resulting from known defects or conditions existing before the policy's inception are not covered.
Faulty Design or Installation
Excludes losses caused by design flaws or improper installation of machinery.
Consequential Loss
MLOP Insurance excludes indirect losses such as loss of market or goodwill due to machinery breakdowns.
Cyber Attacks
Damage or losses resulting from cyber-attacks affecting machinery operations are typically excluded.
War and Terrorism
MLOP Insurance excludes losses caused by war, terrorism, civil commotion, or military actions.
Government Actions
Losses due to confiscation, seizure, or destruction of property by government order are excluded.
Unauthorized Modifications
Excludes losses caused by unauthorized alterations or modifications to machinery.
Utility Supply Failure
Losses due to failure of utility services not directly related to machinery breakdown are excluded.
Illegal Activities
Losses resulting from illegal acts or violations of law by the insured are not covered.
Business Interruption
Compensates for lost income due to machinery breakdowns, ensuring financial stability during repair periods.
Additional Expenses
Covers extra costs incurred to minimise interruption and maintain operations during machinery repair or replacement.
Temporary Equipment Rental
Reimburses expenses for renting substitute machinery while the insured equipment is out of service.
Employee Wages and Salaries
MLOP Insurance covers payroll expenses to retain staff during downtime caused by machinery breakdowns.
Loss of Gross Profit
Compensates for the reduction in gross profit due to decreased production or service capacity after machinery breakdowns.
Increased Cost of Working
MLOP Insurance covers additional costs of expedited production or alternative arrangements to mitigate the impact of machinery breakdowns.
Auditor's Fees
Pays for fees associated with verifying and assessing the financial impact of machinery breakdowns on business operations.
Contingent Business Interruption
Extends coverage to losses incurred from disruptions at suppliers or customers due to machinery breakdowns affecting business operations.
Express Freight
MLOP Insurance covers costs for expedited delivery of replacement parts to minimise downtime during machinery repairs.
Professional Consultation
Includes fees for specialised advice or consultations necessary to manage and mitigate the impact of machinery breakdowns.
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When can I Claim?
A claim under Machinery Loss of Profit Insurance can be registered in the below circumstances:
- When insured machinery suffers a breakdown
- If professional services are required to assess and manage the impact of machinery breakdowns
- If machinery breakdowns lead to interruption of business activities
- When repair or replacement of insured machinery is necessary
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