Machinery breakdown insurance through Nationale-Nederlanden
With machinery breakdown the argument is rarely about the cause and almost always about the bill: repair or replace, at what value, and who pays for what goes wrong around the machine in the meantime.
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In brief
A machinery breakdown insurance covers sudden and unforeseen damage inside the machine itself: a broken shaft, a burnt-out winding, a seized bearing or an operating error. That is precisely what the business contents cover leaves uncovered, because it is based on external perils. Finass applies among others to Nationale-Nederlanden and compares that objectively with the offering of more than thirty insurers.
The cover is tied to the object. The policy should carry a list showing, for each machine, a description, the year of manufacture, the type or serial number and the replacement value including installation, foundation and connection. A machine that is not on that list is not insured, even if it stands in the same hall. That matters particularly with hired, leased and demonstration machines and with equipment you have temporarily in your care from a customer; record who carries the risk in that case.
When a loss occurs, the first step is to determine whether repair is economically justified. If the repair costs exceed the replacement value, settlement follows on the basis of replacement value or market value, depending on the age and on the provisions in the conditions. In the meantime the clock is running: parts for older machines have long delivery times. What the downtime costs falls under the policy only if the business interruption after machinery breakdown section is insured as well; see also the business interruption insurance.
This page deals with one situation. The full overview is on Compare machinery breakdown insurance.
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What to look out for
Four points that determine the size of the settlement.
The list is the cover
Update the declaration on every purchase, relocation or replacement. Include not only the bare machine price but also installation, transport, foundation, control cabinet and connection costs; on replacement those are real items. State as well whether a machine runs in shifts, because running hours determine both the premium and the claims frequency to be expected.
What is destroyed around the machine
If an extruder seizes, not only is the drive train broken but there is also a lost production batch, and sometimes a damaged mould or die. That consequential loss is not part of the basic cover. The same applies to goods spoiled after failure of a refrigeration installation: that calls for a separate section in which the goods are named.
Maintenance, inspection and the logbook
The conditions refer to the manufacturer's maintenance instructions and to statutory inspections of, for example, pressure and lifting equipment. Deferred maintenance is the most frequently used ground for rejection on this policy. Keep a logbook with dates, work carried out and parts replaced; in a claim that is the first document the loss adjuster asks for.
Four causes that fall outside
Excluded are wearing parts and consumables such as blades, filters, belts and lubricants; gradual deterioration through corrosion, erosion or boiler scale; damage the supplier has to repair under guarantee or contract; and damage during dismantling, transport or relocation of the machine, which belongs on transport cover. Continuing to work with a known fault also affects Article 7:952 of the Dutch Civil Code.
What does your premium depend on?
- Replacement value per machine: including installation, foundation and controls
- Year of manufacture and availability of parts: determines the likelihood of a total loss
- Operating hours and shift work: continuous operation loads a machine differently
- Complexity of the control system: the share of electronics and bespoke software
- Maintenance contract: in-house department or a contract with the supplier
- Consequential damage included: product loss, refrigerated goods and downtime
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | Basic | Extended |
|---|---|---|
| A bearing seizes and the drive shaft of your production machine breaks | Yes | Yes |
| An employee operates the machine incorrectly and damages the tool head | Yes | Yes |
| A short circuit in the control cabinet caused by overvoltage on the grid | Provided that | Yes |
| The control computer is stolen from a machine in the hall | No | No |
| An external engineer damages the machine during a planned overhaul | No | Provided that |
| The floor subsides and the machine is thrown out of true and damaged as a result | No | Provided that |
Machinery breakdown is about causes inside the machine itself; theft and external perils belong on the business contents or buildings cover.
Frequently asked questions
This is what people ask us most.
Can I declare one amount for the whole machine fleet?
With a homogeneous fleet that is sometimes possible as a single combined item, but most insurers work with a specification per machine. There is a practical reason for that: when a claim arises it has to be established which value applies and whether the maintenance on that particular machine was in order. A combined amount makes that discussion after a loss harder rather than easier.
Is an older machine settled at replacement value as new?
On repair, the actual repair costs are paid regardless of age, provided they stay below the replacement value. If the machine cannot be repaired, the age does come into play and settlement can be on market value. Have it recorded for each machine which arrangement applies, so that you know where you stand in a total loss.
Does a fault in the control software fall under this?
Usually not. The cover is about physical damage to the item. A programming error, a failed update or a cyber incident that brings the controls down is not physical damage and is excluded. If such a fault does cause mechanical damage, the question is whether the event was sudden and unforeseen; discuss this point with the insurer in advance.
How quickly must I report a claim?
Article 7:941 of the Dutch Civil Code requires notification as soon as you know or ought to know of the event. With machinery breakdown there is a second reason to report quickly: leave the machine in the state it is in and do not start dismantling before a loss adjuster has looked at it. If the cause of the damage is obliterated by your own repair attempts, it can no longer be established afterwards.
Every situation is different. For these situations we have a separate page.