Machinery Breakdown insurance provides cover at your premises for Plant and Equipment including Boilers and Pressure vessels against sudden and unforeseen accidental damage resulting from mechanical failure whilst the equipment is in operational or at rest.Read More
Machinery Breakdown insurance provides cover at your premises for Plant and Equipment including Boilers and Pressure vessels against sudden and unforeseen accidental damage resulting from mechanical failure whilst the equipment is in operational or at rest. The cover also extends to include mechanical failure whilst being dismantled, relocated, reassembled, cleaned or under inspection.
Following a mechanical failure, insurers will provide an additional limit for expediting expenses to be used for the possibility of temporary repairs and/or the hire of temporary equipment to maintain continuity of the manufacturing process including express freight and additional labour costs.
In general, machinery breakdown provides for loss resulting from mechanical failure not triggered by an event that would otherwise be insured under a property policy. E.g. lightening strike, storm damage (water and wind), fire etc. As such this cover compliments your property insurance policy by providing the additional peace of mind knowing that your property risk mitigation programme has been comprehensively addressed from all facets of loss.
The information provided on this page that may have been implied is General Advice only and does not take into consideration your specific needs, risk appetite or financial requirements. Please contact our office to discuss and review your needs and the appropriate financial product best suited to meet your requirements . Before purchasing any financial product, you should always read the Product Disclosure Statement to ensure the product is suitable for your needs.
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