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![Insurance]( "Euroins Insurance")
- Corporate clients
- Property insurance
- Machine breakdown for corporate clients
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![Insurance]( "Euroins Insurance")
- Corporate clients
- Property insurance
- Machine breakdown for corporate clients
Machine breakdown for corporate clients
Machine Breakdown Insurance covers sudden and unforeseen breakdowns of your company’s
production equipment, from material defects and installation errors to short circuits
and the failure of components during operation.
The policy is taken out as an additional coverage to „Fire and Other Risks Insurance“ or „All Risks Related to the Merchant's Property“ and covers precisely those breakdowns excluded under the main property insurance policy – damage originating within the machinery itself.
What is Machine Breakdown Insurance for corporate clients?
Machine Breakdown Insurance is a property insurance product for corporate clients that covers the machinery and equipment specifically listed in the policy. It is intended for legal entities, sole traders, and organizations whose operations rely on production, technological, or energy equipment.
The insurance is not available as a standalone product, and this is not merely a formal requirement but reflects the way risks are divided between the two types of coverage. The main property insurance policy covers external events such as fire, storm, and flood, while Machine Breakdown Insurance covers internal risks – technical failures originating within the machinery itself.
Why choose Euroins for Machine breakdown insurance for corporate clients?
By choosing Euroins, you get a partner that assesses your equipment based on its replacement value rather than its net book value:
- Compensation based on the value of a new machine – The sum insured is determined based on the cost of replacing the machine with a new one of the same type and capacity, including transportation, customs duties, fees, and installation;
- Coverage both in operation and at rest – The machine remains protected when it is shut down, dismantled for inspection, or being moved within the premises;
- Coverage expansion during the policy period – Any machine acquired during the policy period can be added by endorsement, with the additional premium calculated only for the remaining period until the end of the policy.
What does Machine Breakdown Insurance cover for businesses?
The insurance covers any sudden and unforeseen loss of or damage to the listed machinery and equipment that requires repair or replacement. The coverage is based on an all-risks principle – all causes of breakdown are covered, except those expressly excluded under the General Terms and Conditions.
Manufacturing and design defects
- Casting defects;
- Material defects;
- Errors in the machine design;
Errors in manufacturing, installation, and maintenance
- Errors made during manufacturing, installation, or construction;
- Poor workmanship;
- Lack of appropriate qualifications and/or negligence when operating the machine.
Mechanical and electrical breakdowns
- Lack of water in boilers;
- Explosion or damage to components caused by centrifugal forces;
- Short circuit, storm, or any other cause not specifically excluded under the General Terms and Conditions, resulting in the need for repair or replacement.
Terms and Conditions of Machine Breakdown Insurance for corporate clients
For what period is Machine Breakdown Insurance taken out for corporate clients?
The insurance period coincides with the term of the Fire and Other Risks Insurance or All Risks Related to the Merchant's Property policy.
How is the sum insured determined under Machine Breakdown Insurance?
The sum insured is based on the cost of replacing the machine with a new one of the same type and capacity. It includes transportation costs, customs duties, fees, construction and installation costs, as well as materials and components supplied by you.
Each machine listed in the policy is valued separately. If the sum insured is lower than the actual value required for replacement, the compensation is paid proportionally. Therefore, the list of insured machinery should be kept up to date.
What happens if we acquire new machinery during the policy term?
Equipment, machinery, or parts thereof acquired during the insurance period can be added to the coverage by an endorsement to the policy. The additional premium is calculated proportionally based on the remaining period until the end of the policy term.
Frequently asked questions
Can "Machine Breakdown" Insurance for corporate clients be taken out as a standalone policy?
Does "Machine Breakdown" insurance cover damage caused by fire or natural disasters?
Does "Machine Breakdown" insurance cover wear and tear of cutting tools and consumables?
Other insurances suitable for you
You can insure your motor vehicle registered in Bulgaria against total loss or partial damage.
We cover expenses and benefits related to a domestic or occupational accident.
Insure your property used for business, production or administrative activities.
We cover material damage (accidents) to the insured property
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