Breakdown Insurance covers Electrical Plant, Oil Engines, Steam Engines and Pumps and Air Compressors which are the main classes of a plant. Breakdown means the breaking of any pat of while the plant is running which causes a sudden stoppage and necessitates repairs before work can be resumed. Under this Insurance wear and tear and certain types of failure peculiar to some kinds of plant are excluded.
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A form of motor insurance covering the expenses incidental to the breakdown of a car, such as towage, hire, getting the car home, and hotel expenses.
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Breakdown recovery
Cover sometimes added to motor insurance whereby the insurer recovers vehicles from the scene of a breakdown as distinct from the scene of an accident. Recovery following an accident is an integral part of the cover under comprehensive motor policies. Extended warranty insurances often include breakdown recovery.
Breakdown/Breakdown insurance
Boilers, pressure vessels, cranes, lifts and other lifting equipment, engines, electrical equipment may be insured against breakdown under the engineering policy. Breakdown generally means the breaking or burning of any part of the plant while it is running that causes a sudden stoppage that necessitates repair before resuming work although there may be specific definitions for particular forms of plant. Basic breakdown cover relates to self-damage, but cover is usually extended to damage to surrounding property, public liability, fragmentation, consequential loss, hired-in plant damage and deterioration of stock.
Breaking Arrears
Applying advance payments of one Policy owner to another Policy owner’s arrears. it is a falsification of records and a form of embezzlement.
Breaking the Warranty
A breach by the insured of a warranty in an insurance policy which requires him to do, or not to do, something.
Brick Construction
Construction made of brick and mortar and thus more Fire resistant that wood construction.
Bridge insurance (Property Insurance)
Insurance that covers a structural bridge in the event of damage or destruction.
Bridge insurance for bridges under construction (Property Insurance)
Insurance that covers a bridge against fire damage, lightning strike, earthquake, collision, flood, and other acts of God while the bridge is in the process of construction.
Bridging pension
An additional pension taken from a pension scheme to ‘bridge’ the gap between actual retirement and state pensionable age at which time it is replaced by the state pension so there is no loss of income.
Brief
A statement prepared by an attorney to highlight the principal issues of his case.