Protecting Your Machinery and Assets Against the Unexpected
Sukoon Comprehensive Machinery Insurance (CMI) policy provides broad protection for industrial plants and factories, covering machinery as well as related assets such as buildings, stock, and goods in progress under a single policy. With over 50 years of experience insuring businesses across industries, we recognise that operational disruptions can arise from more than just machinery breakdowns. Losses may result from a wide range of unforeseen events affecting the premises. CMI is an all-risks accident and loss of profits insurance that covers sudden and unforeseen physical loss or damage to the insured plant requiring repair or replacement, allowing you to focus on running your business while the risks are taken care of.
Note: The sum insured should always represent the new replacement value of the property insured.
What’s Covered
Section I
In addition to the classical scope of cover under machinery insurance, your plant and machinery are further protected against the following:
- Fire, lightning, chemical explosion
- Earthquake, inundation, flood
- Any other cause that's not specifically excluded
Section II
This is a business interruption cover, which provides protection against loss of gross profit and increased cost of working in case the business is interrupted or interfered with, as a consequence of loss or damage that is covered under Section I.
YOUR QUESTIONS ANSWERED
We are here to help. Find the most commonly asked Comprehensive Machinery (CMI) Insurance questions.
No, any loss or damage to items that are immediately affected by the above are not covered. However, your insurance can be extended to cover any loss or damage to the correctly executed items resulting from an accident that happened because of faulty design, defective material or workmanship.
No, it's not. It totally depends on you. But we would say that it is advisable.
So, this is how it goes. You will need to estimate the maximum value of the stock that you may be holding at a particular point of time during the policy. This will be considered as the sum insured and the premium rate is charged based on this amount.
At the beginning of each month, you will need to declare the highest value of the stock that you were holding during the previous month. The same will be considered as the declaration for that month. At the end of the policy period, the premium is adjusted based on the average monthly declarations provided by the insured.
To be honest, we don't usually insure plastic factories. However, you can reach out to us and we can come to a decision based on your case.
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Deira, P.O. Box 5209
Dubai, United Arab Emirates
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