Covers damage to the physical property, machinery breakdown, business interruption losses, and liability claims.

While not legally mandatory, it is often required by lenders or clients, especially in high-risk industries.

Yes, but older machinery might affect the terms of the coverage and the premium costs.

Notify your insurer immediately after an incident, document the damages, and follow the insurer’s claims process.

Most policies cover common natural disasters, but check for specific exclusions like floods or earthquakes.

Factors include the type and age of the machinery, factory location, industry type, and previous claims history.

Implementing safety protocols, regular maintenance of equipment, and opting for higher deductibles can lower premiums.

Yes, theft is generally covered, especially when it involves burglary or forcible entry.

Many insurers offer discounts for good risk management practices and for bundling different types of insurance.

Yes, most insurers offer customizable policies to meet specific needs and risks of your factory.