Policy is issued for covering loss or damage to Plant and Machinery such as Boilers/Pressure Plants with auxiliaries, electrical equipment like alternators/generators/motors/rectifiers/switchgear/transformers/mechanical plant/machinery including engines, pumps, process machinery, blowers, compressors, refrigeration plant, turbines, machine tools and presses, lifting equipment like lifts, hoists, cranes, conveyers. Policy covers unforeseen and sudden physical loss or damage by any cause (other than exclusions) while it is at work or at rest or while being dismantled for cleaning or overhauling or during cleaning or overhauling, during subsequent erection/reassembly or while being shifted within the insured premises. Loss producing event could be (a) Electrical short circuit, arcing, failure of insulation, malfunctioning of control circuits etc., (b) Mechanical e.g., faulty material, casting, vibrations, maladjustments, loosening of parts, abnormal stress, centrifugal forces, defective lubrication, failure of protective devices, (c) External/accidental e.g., entry of foreign body, impact, collision, etc. Sum Insured need be current new replacement value including transportation to site, duty, erection or installation cost. However, Policy does not cover Fire Policy risk and perils.