This policy can be taken in conjunction with Fire Policy or Machinery Breakdown policy only. The policy provides compensation for financial loss suffered due to interruption of business/ operations following damage to the property insured. This policy is also known as Business Interruption Policy or Loss of Profit (LOP) Policy.

The policy covers :

• Loss of gross profit

• Increased cost of working

The policy pays for the actual loss of gross profit incurred during the period of delay, commencing from the scheduled date of commencement of commercial operation upto the actual date of commencement of commercial operation.

The policy does not cover delay due to:

• Inventory losses
• Delay in shipment of  goods/ equipment
• Slippage of Normal project schedule
• Non-availability of funds for repairs/replacement to damaged items
• Cancellation of license or Govt. restrictions etc

The policy covers sudden, accidental, external damage to the insured machinery due to any cause other than those specifically excluded in the policy. This policy covers all different types of machinery used for handing material or construction.

The policy covers the machinery whilst they are in operation or at rest or whilst being dismantled for the purpose of cleaning or overhauling or whilst being shifted within the premises or during subsequent re-erection, but in any case only after successful commissioning.

The policy can be taken by any one of the following parties, either individually or jointly :-

• The owner of the machine
• The contractor / user of the construction machinery
• The financial institutes who have an interest in the construction machinery.

The policy can be extended to cover

1. Third party liability - personal injury and property damage
2. Damage to owner's surrounding property
3. Express Freight, Overtime expenses and wages
4. Debris removal

If you require a quotation or more information, please feel free to use one of the following contact methods: