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Machinery and Equipment Breakdown Insurance
Machinery and Equipment Breakdown Insurance is an essential solution for businesses that own large machinery and equipment. When unexpected breakdowns occur due to technical failures or external factors, repair costs can be substantial, causing disruptions to business operations. This insurance helps businesses maintain production and operation at the lowest possible cost. Whether you manage a manufacturing plant, a construction company, or an industrial facility, this insurance will protect critical equipment and prevent major repair expenses.
Suitable Customers: Manufacturing businesses, factories, and production workshops that use large equipment, especially those relying on industrial machinery for ongoing operations.
Key Benefits:- Ensures Business Continuity: Helps businesses quickly repair or replace damaged equipment, ensuring that production processes are not disrupted.
- Minimizes Financial Loss: Reduces significant repair costs, avoiding unforeseen expenses that could impact cash flow.
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Get A QuoteYour duty of disclosure
Before you enter into, renew, vary, extend or reinstate a commercial insurance contract, you must tell the insurer everything you know, or could reasonably be expected to know, that is relevant to its decision to insure you and on what terms. You do not need to disclose anything that reduces the risk, is common knowledge, the insurer knows or ought to know, or that the insurer has waived. If you do not comply, the insurer may reduce or refuse a claim or cancel the contract. If the failure was fraudulent, the insurer may treat the contract as if it never existed.
Before you buy
Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for any policy before deciding. The PDS sets out what is and is not covered, the limits and the excesses. The TMD describes the class of customer the product has been designed for. We will provide the current PDS and TMD for any policy we recommend, or you can request them from us.