If your equipment fails, chances are your business may also. How will you deliver orders? You may need to quickly find or rent alternatives which will increase costs. What if customers can’t wait? Orders may be cancelled, which may mean revenue losses and potential repetitional damage. Personal injury to your team members could also result.
Equipment breakdown insurance covers the sudden and accidental physical damage to equipment that requires repair or replacement. Let us help you get better coverage aligned so you can keep running.
Businesses depend on equipment such as HVAC systems, boilers, manufacturing machines, and computers. When essential equipment fails, it can disrupt operations and result in costly repairs or downtime. Equipment breakdown insurance covers sudden and accidental mechanical or electrical failures, filling a gap often left by standard property policies.
This coverage pays for the repair or replacement of failed equipment and can extend to related losses such as spoiled goods, additional expenses to expedite repairs, and lost income during downtime. For example, if an electrical surge damages a key machine, your policy ensures repairs are covered and your business can recover quickly.
Property insurance generally excludes internal equipment failures. Equipment breakdown coverage ensures you are protected against these unexpected incidents.
In addition to repairs, coverage often includes lost income and extra expenses to keep your operations running, protecting your financial stability during disruptions.
This insurance covers everything from high-tech production machinery to everyday systems like refrigeration and electrical panels.
Business owners and facility managers can operate confidently knowing they have protection against equipment failures that could otherwise create major financial setbacks.
ALIGNED brokers assess your equipment exposures and create coverage designed to complement your property insurance. With the right limits and options in place, you can be confident your business will keep running even if critical equipment does not.
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