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(Please read this Product Disclosure Sheet before you decide to take up the Machinery Breakdown Insurance. Be sure to also read the general terms and conditions.)

What is this product about ?

This policy provides insurance cover for loss or damage to your machineries from causes not specifically excluded for plant, machinery and mechanical equipment at work, at rest or during maintenance operations.

What are the covers / benefits provided ?

This policy provides cover against sudden and unforeseen physical damage to your machinery whether at work or at rest and during cleaning, inspection, over-hauling, and removal to another position within the premises during subsequent re-erection.

The common perils covered are:-

  • Defects in casting and material
  • Faulty design
  • Fault at workshop or in erection
  • Bad workmanship
  • Lack of skill
  • Carelessness
  • Shortage of water in boilers
  • Physical explosion
  • Tearing apart on account of centrifugal force
  • Short circuit

How much premium do I have to pay?

The premium you have to pay varies depending on the type, condition and nature of the use of your machineries and our underwriting requirements.

What is the payment mode and how do I pay the premium?

This is an annual policy and you may pay your premium either by cash, or cheque.

What are some of the key terms and conditions that I should be aware of ?

• Duty of disclosure

  • You must give all the facts which you know or ought to know.
  • You must ensure that the proposal form is completed accurately as it forms the basis of the insurance contract.

• Sum Insured

You must ensure that your sum insured should always be the New Replacement Value of the machinery. This includes
the value of the new items, custom duties, transportation and installation costs.

New Replacement Value – we will pay the full cost of replacing or reinstating the damaged property by the same kind
and capacity.

In the event that the property is no longer available in the market, we will replace you with the nearest model provided
its value does not exceed the sum insured stated in the Schedule.

If the sum insured is less than the amount required to be insured at the time of loss (i.e. under-insurance), you are
deemed to be self-insuring the difference. The average condition will apply in the event of a claim. Every item if more
than one shall be subject to this condition separately.

• Claims

Upon the happening of an incident which gives rise to a claim, you shall notify us immediately.

• Deductible/Excess

This is the amount you have bear before we indemnify you of a loss.

• Premium Warranty

Premium must be paid and received by us within 30 days from the inception date of the cover, otherwise the cover is automatically cancelled and you will still be responsible to pay the proportion of premium for the period we have been on risk.

What are the major exclusions under this policy?

This policy does not cover:

• Loss of or damage to exchangeable tools, catalyst
• Loss or damage due to fire & allied perils, flood, collapse of building, landslide
• Loss or damage due to burglary, theft
• Loss or damage for which a contractor, supplier or repairer is responsible either by law or under contract
• Loss or damage caused by existing defects or faults
• War, Civil War and any act of Terrorism
• Radioactive and nuclear energy risks
• Wilful acts or wilful negligence
• Loss or damage as a direct consequence of the continual influence of operation (e.g wear & tear)
• Consequential loss or liability of any kind

Note: This list is not exhaustive. Please refer to the policy contract for the full list of terms and conditions under this policy.

What are the pre-acceptance conditions for this product?

• No claims for the past 3 years.
• Insured has never been declined, cancelled or refused coverage previously.

Can I cancel my policy?

You may cancel the policy at any time by giving written notice to us. Upon cancellation, you are entitled to a refund of the premium based on the unexpired period of insurance less 10% administration charge.

Where can I obtain further information?

If you have any enquiries, please contact us at:

Customer Service
Dara Insurance Plc
Canadia Tower, 3rd Floor
No. 315, Corner of Ang Duong St.and Preah Monivong Blvd.,
Sangkat Wat Phnom, Khan Daun Penh, Phnom Penh, Cambodia.

Tel : 023 901353
E-mail : enquiries@darainsurance.com.kh
Website: www.darainsurance.com.kh