For machinery and systems Engineering insurance

Insured risks

The insurance covers damage to your company’s technical equipment that occurs suddenly and unexpectedly and is caused by external factors such as employee mishaps or deliberate damage by third parties, or which is caused internally, for example by defective construction or materials. Other potential risks:

• Human error
• Violent acts or sabotage by third parties
• Loss/damage due to collision, impact, overturning, crashing or sinking
• Defects in construction, materials, fabrication or execution
• Loss/damage resulting from defective lubricants
• Loss/damage due to breakage, cracks or deformation
• Loss/damage due to overheating, too much or too little pressure, scorching, burning
• Effects of electric current (e.g. short circuit, lightning strike, overcurrent or overvoltage)
• Failure of systems used for measuring, control or safety
• Failure of electronics

Insured benefits

The insurance fully covers all technology equipment and machinery in your company if, for example, you have to pay the costs for repairs, replacement or rental equipment as well as for the lease payments for defective devices. And your company is indemnified for any loss of earnings in connection with an insured loss. 

• Repairs: Covers replacement parts and repairs to insured machines, systems and IT equipment
• New and rental equipment: Covers costs for rental equipment and for new equipment that is a total loss (at the applicable list price during the first two years following acquisition, and at present value thereafter)
• Loss of earnings: We will indemnify the loss if production is reduced or halted due to an insured event
• Additional costs: Covers the added expenses and consequential costs necessary for minimizing a loss
• Loss of data: Covers the costs of restoring electronic data

Insured devices 

• Blanket coverage: The insurance covers all of the insured company’s IT and communications technology, IT systems and software, regardless of whether it is owned, rented or leased. Includes infrastructure and data carriers.
• Separate coverages: Your SME's machinery and systems are insured individually based on the actual equipment at your company. This means you only pay to protect what you actually have. Individual coverage can be arranged for:
  • Stationary machinery, such as printing presses or filling line equipment or 
  • self-driving or drivable equipment on the company premises such as excavators or forklifts
  • Other drivable and transportable equipment and machinery not located on your premises