Machinery Loss of Profits
Comprehensive Protection for Your Construction Equipment
Unexpected breakdowns of critical machinery, boilers, or pressure vessels can disrupt operations and impact revenue. The Machinery Loss of Profits Policy safeguards businesses from financial losses caused by machinery failures by covering lost earnings during the indemnity period. The coverage begins from the date of damage and continues until operations are restored or the indemnity period ends.
Key Benefits
- Covers loss of income due to machinery breakdown
- Flexible indemnity period based on business needs
- Protection against revenue disruptions and financial losses
- Covers fixed costs during operational downtime
- Supports business continuity and minimizes financial impact
Health Cover Up
to ₹50 Lacs
What is Machinery Loss of Profits?
Machinery Loss of Profits insurance protects businesses from financial losses caused by unexpected machinery breakdowns. It covers the loss of income and fixed expenses incurred during the downtime, ensuring business continuity until operations are fully restored.
Why do you need Machinery Loss of Profits?
Financial Protection
Safeguards against income loss due to machinery breakdown
Business Continuity
Ensures smooth operations by covering fixed expenses
Operational Stability
Minimizes disruption and helps in quick recovery
Comprehensive Coverage
Covers profit loss, standing charges, and additional working costs
Why choose Insurance Manager to protect your business?
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
What does Machinery Loss of Profits cover and exclude?
Plan Coverage
Loss of Gross Profit
Covers financial losses due to reduced turnover or output.
Increased Cost of Working
Reimburses additional expenses incurred to maintain operations.
Accidental Machinery Damage
Covers loss resulting from damage to insured machinery or boilers.
Consequential Business Interruption
Protects against revenue loss due to insured machinery failure.
Coverage Based on Financial Figures
Sum insured includes annual net profit plus standing charges.
Indemnity Based on Business Trends
Adjustments made considering expected financial performance.
Premium Adjustment Clause
Allows revision based on actual gross profit figures.
Aligned with Machinery Policy
Coverage applies only if machinery breakdown is covered under the main policy.
- In-patient treatment 24 hours a day
- Pre-existing disease
- Pre and Post hospitalization
- Domiciliary hospitalization expenses
- Reimbursement of cost of health check-up
- All day care procedure
- Family floater to covers member’s immediate family such as a spouse, dependent children, dependent parents, etc.
- Maternity benefits
- Dental treatment
- Cost of spectacles, contact lenses
- Waiver of waiting period
- Waiver of first-year exclusions
- Reimbursement of ambulance costs
- Baby day one care
- Vaccination benefits
- Increased room rent limits
- Corporate buffer
- Out-patient treatment (OPD Card)
- Root canal surgery
- In-hospitalization expenses due to sickness or accidents
- Room and boarding expenses as provided by the hospital/nursing home.
- Nursing expenses.
- Surgeon, anesthetist, medical practitioner, consultants or specialist fees.
- Anesthesia, blood, oxygen, operation theatre charges, surgical appliances, medicines and drugs, diagnostic materials and X-Ray, dialysis or chemotherapy.
Major Exclusions
Willful Misconduct
Loss due to negligence or willful act of the insured or representatives.
Pre-Existing Defects
Damage from known faults or defects at the policy’s start.
Material Deterioration
Excludes loss of raw materials, semi-finished, or finished products.
Regulatory Restrictions
Loss due to operational limits imposed by public authorities.
Alterations & Overhauls
Damage during improvements, repairs, or replacements.
War & Warlike Perils
Loss resulting from war, conflict, or related events.
Extended Repair Delays
Excludes delays exceeding four weeks in securing parts or services.
Transport & Customs Issues
Loss arising from import/export restrictions, regulatory issues, or transport delays.
- If the appropriate waiver is not opted for, then the policy will not cover
- Treatment of pre-existing illnesses.
- Any treatment for illnesses/diseases within the first 30 days of the policy, unless it is an accident.
- Treatment of specified illnesses for the first year of the policy.
- Certain diseases like hernia, cataract, piles, sinusitis, etc are excluded during the first year of operation in the cover.
- Any claim arising out of or traceable to pregnancy.
- Ayurvedic, homeopathy, naturopathy or any other form of local medication.
- Alcoholism, drug abuse, and AIDS.
- Dental treatment or surgery unless it requires hospitalization.
- Cost of spectacles.
- Vaccination and inoculation.
- Cosmetic treatment.
Your Journey to Insurance Manager
When can I Claim?
A claim under Machinery Loss of Profits can be registered in the below circumstances:
- When there is a sudden and unforeseen breakdown of insured machinery.
- When the machinery breakdown leads to a loss of revenue or increased expenses.
- When the business operations are interrupted due to machinery failure.
Claim what’s yours with Insurance Manager
Have more questions?
Submission
Assessment
