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The sum insured of each item of machinery should represent the current purchase
cost of a similar new machine including all incidental expenses like freight,
duty, taxes, cost of erection etc.
In the event of any loss or damage giving rise to a claim under the policy, the
following steps should be taken:-
Note: Policy details given are indicative, not exhaustive. Please contact your nearest NIA office for further details.
This policy covers all different types of machinery used for handing material or
The policy covers sudden, accidental, external damage to the insured machinery
due to any cause other than those specifically excluded in the policy.
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 main exclusions of the policy are:-
The policy can be extended to cover
The policy can be taken by any one of the following parties, either
individually or jointly :-
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