What is Machinery Breakdown Insurance?
Machinery Breakdown Insurance is a policy covering you for the cost of repairs or replacement for equipment which has broken down. This may also include consequential losses such as stock or profits whilst you await repair or replacement.
What does Machinery Breakdown Insurance cover?
Machinery Breakdown typically insures air conditioning systems, cool-rooms, fridges and freezers, printing equipment, boilers, pressure vessels and manufacturing equipment.
Machinery Breakdown example
You’ve closed your café in an industrial estate for the long weekend. During the long weekend, one of the fridges fails causing a circuit breaker to trip which protects half your shop. You have many other fridges and freezers working off this same electrical circuit which are no longer operating and keeping stock cool.
Upon return from the long weekend, you discover you have not only one damaged fridge, but many thousands of dollars worth of stock lost as a result. Thankfully your Machinery Breakdown Insurance Policy has you covered for the equipment’s repair and your stock losses.