Machine & Equipment Insurance Overview

Which of the following is covered under Machine & Equipment Insurance?

What types of damage does Equipment Insurance cover?

Which scenario would be covered under Burglary Insurance?

What property is generally excluded from Burglary Insurance coverage?

What is a requirement for access into the premises during a theft to be covered by the Full theft extension clauses?

How are vehicles licensed for public road use insured?

Which type of damage is NOT covered by Equipment Insurance?

What is a common exception imposed for the Full theft extension clauses?

Machine & Equipment Insurance

Designed for immobile or static equipment such as photocopying machines, generators, and telephone switchboards.
Coverage includes three main areas: fire, theft, and accidental damage due to external causes only.

Equipment Insurance

Primarily covers mechanically propelled vehicles and equipment not licensed for public road use.
Examples include cranes, tractors, forklifts, excavators, and bulldozers.
Licensed vehicles for public roads fall under the Motor Policy.
Indemnifies against:
- Accidental collision or overturning
- Accidental collision due to mechanical breakdown or wear and tear
- Risks associated with fire, external explosion, self-ignition, or theft.

Burglary Insurance

Covers loss from theft involving forcible and violent entry or exit from a building.
Includes damage to insured property or premises resulting from theft.
Access using original/duplicate/skeleton keys may be covered with a "Full theft extension clause," requiring an additional premium.
Such extensions are selectively granted based on the insured's integrity and honesty.
A small excess typically applies to this extension.

Property Insured

Defined under five broad categories:
- Stock in trade owned by the insured.
- Goods held in trust or on commission for which the insured is responsible.
- Trade fixtures, fittings, utensils, and office equipment.

Explore the fundamentals of Machine and Equipment Insurance, focusing on policies designed for static equipment like Photostatting machines and generators. This quiz covers the primary areas of protection including fire, theft, and accidental damage. Test your understanding of these essential insurance concepts.