Equipment Breakdown
The costs incurred to repair/replace items following an instance of breakdown.
Machinery Breakdown
If the continuity and turnover of your business is contingent on machinery and equipment, a damaged part or breakdown could affect your capacity to operate. Machinery breakdown could have a significant and detrimental impact on your bottom line.
A Machinery Breakdown Insurance policy can protect you from financial loss when things don’t go to plan.
Machinery Breakdown insurance can assist your business in a number of ways:
- Repair costs covering the breakdown of machinery
- Consequential losses as a result of the breakdown - e.g. replacement for loss and spoilage of stock, or loss of profits which could occur while waiting for the parts to repair your machinery.
Types of machinery this policy can cover are:
- Air conditioning
- Cool rooms, fridge or freezer
- Printing equipment
- Boilers
- Pressure vessels
We can arrange cover specifically for the machinery integral to your business. We strive to provide you with a solution that gives you peace of mind and greater confidence when making decisions that affects the future of your business.
Please Note: Below are some of the more common insurance policy features, however, the list is not exhaustive and some features may not be offered by certain insurers. Please refer to the insurer specific policy wording for inclusions, exclusions, terms and conditions.
Covered Features
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Deterioration of Stock
Costs incurred as a result of spoilt stock following an instance of breakdown.
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Interruption Insurance
Cover provided for loss of profits etc. as a result of a breakdown.
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Temporary Hire Costs
The costs to hire temporary equipment to keep the business operational.
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Professional Fees
The professional fees associated with proving or quantifying a loss.
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Expediting Expenses
Any costs reasonably incurred to make temporary repairs, expedite permanent repairs or replacement.
