Machinery and electronic equipment is often a fundamental part of any business.
Machinery Breakdown Insurance provides protection to your business against significant loss should your equipment be damaged or break down. Replacement or repair of broken machinery can be costly, and may even exceed the machine’s replacement value.
Machinery Breakdown Insurance can cover electronic equipment including air conditioning, computers, switchboards, transformers, boilers and pressure vessels.
Protection against financial loss following machinery breakdown can also be included.
The following are examples of available benefits:
Temporary Hire Costs
Covers the cost of hiring temporary plant or equipment, whilst your equipment is being repaired or replaced.
Electronic Data and Media Restoration
Covers the cost of reinstating data following an electronic breakdown.
Business Interruption (Loss of Income)
Covers loss of profits caused by machinery breakdown.
Deterioration of Stock in Cold Storage
Covers the cost of replacing stock that is damaged by refrigeration breakdown or contamination of the goods caused by a refrigerant leak.
Demolition and Increased Cost of Construction
Covers the increased cost of repair or replacement, including the costs of demolition and removal of debris.
Covers the cost of an authorised professional to establish the amount payable in the event of a loss.
Automatically covers the acquisition of a new premise provided notification is advised within a specified period.
Reviewing your cover with your insurance broker will help you determine the policy coverage you require to ensure you are correctly covered.
Find out what Austbrokers Countrywide can do for you.
For an obligation free insurance review, talk with one of our specialist brokers today to find out more.