Machinery and electronics all risks insurance (including selected natural hazards)

Machine and electronics insurance is arranged for the case of sudden damage or destruction of the insured item by any accidental event that restricts or excludes its operational capability.

Only machines that were in operational condition at the time of arranging the insurance and were put into operation in accordance with applicable legal regulations and manufacturer requirements can be insured. This means that the insured item has been tested and, after the trial operation, is either ready for acceptance at the place of insurance or is already in operation. For insuring specific machines, the condition of the machine is decisive, not its age. The age of machines is limited to seven years for insurance of a set of machines unless otherwise agreed in the contract. For the insurance of a set of electronics, the age of the electronic device is typically limited to five years unless otherwise agreed in the contract.

Machine insurance covers the insured machine in operation, at rest, during disassembly for cleaning or major repairs, during relocation within the place of insurance, or during subsequent reassembly.

Machine insurance can also be arranged for the following additional coverages:

Costs for cleaning, decontamination, and removal of residues
Additional costs for relocation and protection
Costs for scaffolding construction, salvage costs, or costs for activating temporary measures
Overtime and work on Sundays, holidays, and nights
Costs for air transportation
Travel costs for technicians and experts from abroad
Cancellation of insurance for natural hazards can also be arranged if the items insured for these hazards are covered under movable property insurance. This will result in a reduction in the premium.

Machine and Electronics Insurance Does Not Cover

Motor vehicles and trailers with assigned state or registration license plates, except for self-propelled and trailer working machines
Boats and aircraft
Railway vehicles
Samples, demonstration models, prototypes
Hand tools with electric, pneumatic, or combustion drive (e.g., drills, grinders, saws, demolition and drilling hammers, hand lawnmowers, etc.)
Spare parts of insured items, auxiliary and operating materials, consumables, and work tools, e.g., lubricants, refrigerants, developers, reagent materials, toners, cooling and extinguishing agents, ribbons, films, picture and sound carriers, foil combinations, processed papers, font carriers, raster discs, pipettes, reagent vessels, etc.
Other parts that need to be replaced several times during the lifetime of the insured item due to its specific function, during a change in the working process, or due to wear and tear, e.g., fuses, tubes, light sources, filtering materials, inserts, etc.

Insurance Benefits for Machine Insurance

In the case of destruction or theft of the insured item, the insurer will pay the market value, minus the deductible and the value of usable residues.
In the case of damage to the insured item, the insurer will cover reasonable repair costs to restore the item to operational condition as it was immediately before the occurrence of the claim, minus the value of usable residues of replaced parts. The limit of coverage is the market value of the insured item before the claim.
The insurer will also cover the costs of disassembly and reassembly, if necessary for repair, costs of usual transportation (to and from the repair site), and any duties and fees, provided these costs are included in the insurance amount.

Insurance Benefits for Electronics Insurance

In the case of destruction or theft of the insured item, the insurer will pay the replacement amount, minus the deductible and the value of usable residues.
In the case of damage to the insured item, the insurer will cover reasonable repair costs to restore the item to operational condition as it was immediately before the occurrence of the claim, minus the value of usable residues of replaced parts. The limit of coverage is the replacement value of the insured item before the claim.
The insurer will also cover the costs of disassembly and reassembly, if necessary for repair, costs of usual transportation (to and from the repair site), and any duties and fees, provided these costs are included in the insurance amount.

Who the Insurance is Intended For

This insurance for technical risks is not only intended for large industrial enterprises but is practically suitable for all business entities.

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