Efficient and on-time maintenance plays a crucial role inreducing cost and increasing the market share of an industrial unit. Preventivemaintenance is a broad term that encompasses a set of activitiesaimed at improving the overall reliability and availability of a systembefore machinery breakdown. The previous studies have addressed thescheduling of preventive maintenance. These studies have computed thetime and the type of preventive maintenance by modeling the total costrelated to it. Todays the engineering insurance is an appropriate anddurable protection for reducing the risks related to the industrial machinery.This kind of insurance covers a part of maintenance costs. Previousresearches did not consider the effect of engineering insuranceon maintenance scheduling while it affects the total cost function of maintenance scheduling seriously. Given the above-mentioned remarks,this paper introduces for the first time a new scheduling of preventivemaintenance with considering total cost and total reliability of the systemin which the effect of engineering insurance has been taken intoaccount. Due to the uncertainty in the input parameters, which arevery common in application, the paper proposed the application of robustdesign approaches. To solve this multi objective model, first it hasbeen transformed into a single objective model by using global criterionand the resultant model is solved through genetic algorithm. Theresults show the magnitude effect of engineering insurance on maintenancescheduling. Therefore, neglecting the importance of engineeringinsurance leads to an inefficient scheduling maintenance. Manuscript profile