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Machinery and Equipment Breakdown Insurance in Bulgaria

Machinery and Equipment Breakdown Insurance in Bulgaria

Subject matter
The insurance provides cover against property damage resulting from breakdown of machinery and equipment during the production process, which are owned or under the responsibility of the Policyholder.

Insurance cover
Includes sudden and unforeseen loses and damages resulting from defective material or moulds, incorrect design, faults in the manufacturing or installation processes, bad workmanship, shortage of water in boilers, explosion which is not part of the normal technological process, destruction resulting from centrifugal forces, over-speed and lack of balance, but only the damages caused to the machine or installation itself, short circuit, storm, hail, freezing or defrosting, lack of lubrication or insufficient lubrication, self-heating, material fatigue.

Some insurers also cover losses and/or expenses like decrease of the gross profit, permanent costs, etc. resulting from machinery breakdown.

The insurance policy can be concluded in favor of the lending bank.
 

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