Equipment Breakdown Insurance


Sudden, accidental damage to your business equipment doesn’t have to set you back. Speak with a commercial broker today to manage your risks.

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Equipment Breakdown Insurance

Commercial property insurance does not cover you when your equipment breaks down, so if your business and livelihood is dependent upon its equipment running smoothly, the protection provided by Equipment Breakdown Insurance, also known as Boiler and Machinery Insurance, is a wise investment. This is a matter of critical importance for businesses relying on particular pieces of equipment to keep their operations running efficiently and without interruption. Common examples include:

  • Refrigeration systems,
  • High-pressure boilers,
  • Control systems,
  • Telephone systems,
  • Power transformers,
  • Computer systems, and
  • Fire Detection systems.

Although this valuable insurance coverage does mean having to pay premiums, it is still preferable to having to bear the cost of either major repairs, or replacement of broken-down equipment while incurring the financial losses from interrupted operations at the same time.


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What Is Included in Equipment Breakdown Insurance?

Like its name suggests, equipment breakdown insurance includes coverage for breakdowns caused by external causes. For example, if a piece of equipment breaks down because of a power surge caused by extreme weather, equipment breakdown insurance can cover the costs of repair and replacement. Similarly, if a compressor should fail causing the air conditioning system to break down, this too would be covered. In contrast, if a piece of equipment breaks down because it has been used so long that its usefulness has been exhausted, then that would not meet the conditions laid out in the terms of the policy.

Many Options for Customization

Of course, equipment breakdown insurance is similar to other forms of insurance in that they can come with a lot of options for maximum customization. This ensures that the policy is tailored to suit your specific needs, but it can also make the insurance purchasing process that much more complicated and time-consuming. This is where an insurance expert can make your life easier and help you determine what coverage you really need.

Why Use an Insurance Broker?

As an insurance broker we represent many insurance companies rather than just one. As a result, we can do the comparison-shopping on your behalf and find the one perfectly suited to your needs. Better still, with an insurance expert’s skill and knowledge on your side, we can help you sort through all of the possibilities, making the process as simple and as straightforward as possible.

Questions?

To learn more about how equipment breakdown insurance can protect your business, please contact Sean McNamara at Mitchell & Whale Insurance Brokers at 1-800-731-2228 or email me at smcnamara@mitchellwhale.com. I’d be happy to help you with any type the commercial insurance you may need.

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