“Breakdown of machinery” is one of the most frequent insurance claims we see from business owners and hence it is important to get good advice!
The insurer definition of “breakdown” is generally along the lines of “sudden and unforeseen failure of mechanical, electrical or electronic componentry”. That means much more than just the motor in your air conditioning unit fusing.
It includes things like gearboxes, compressors, circuit boards and hard drives. Have a quick think about how many pieces of equipment in your office, business or home have a circuit board, compressor or hard drive. It amounts to a whole lot of important and expensive capital.
The reality is that many machines stop working due to sudden and unforeseen breakdown (rather than wearing out gradually), and hence a legitimate claim can be triggered.
If you have computer servers, monitors, phone systems, air conditioning systems, refrigeration plant or lifts in your business, you would be remiss to not consider Machinery Breakdown Cover. This is substantial and vital infrastructure, and relevant policies can include cover for things like the cost of labour, loss of refrigerated (spoiled) stock, restoration of data and a range of other expenses you will incur when machinery breaks down.
If you’d like to save your and your business owner clients the expenses associated with machinery breakdown, please call any one of our team of risk experts for advice on the best policy options available for you.No Comments »