Equipment All Risks Insurance
Covers all off-road mobile vehicles against any eventuality.
This policy provides you with coverage for loss or damage of industrial and commercial plant, machinery and equipment.
Mobile Equipment
This class of insurance is specially designed to cover mobile vehicles or equipment which are not licensed for general road use. Some examples include forklifts, wheel loaders, agricultural tractors, excavators, bulldozers, crawlers etc.
The policy covers loss or damage to the property insured by :
- Accidental collision or overturning or collision or overturning consequent upon mechanical breakdown or consequent upon wear and tear
- Fire external explosion self-ignition or lightning
- Theft
- Malicious Act
Immobile Equipment
The coverage provided is very wide and embraces accidents or misfortunes not expressly excluded. The policy covers loss or damage to immobile industrial or commercial equipment arising from:
- Fire and Lightning
- Theft consequent upon violent or threat of violence to persons or forcible and violent entry into or exit from the Premise
- External Accidental Damage
All Risks policy is an indemnity policy. The measure of an insured's loss is the cost of restoring the damaged property to or replacing it with property similar in condition to the time of loss:
- Plant & Machinery : The cost of replacement with a new item less deduction for depreciation due to wear and tear.
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The benefit(s) payable under this product is (are) protected by PIDM up to limits. For more information, please refer to PIDM's Takaful and Insurance Benefits Protection System brochure on Zurich General Insurance Malaysia's website or PIDM's website.