What Is Equipment Breakdown Insurance?
When it comes to insuring equipment, we often think of businesses like restaurants and factories, but the truth is that all businesses rely on equipment that can lead to expensive solutions when it breaks down. That’s why Equipment Breakdown Insurance covers a wide range of equipment: electrical and mechanical equipment, air conditioning and refrigeration systems, communication equipment and computers, boilers and pressure equipment, and even new technology.
Equipment Breakdown Insurance has your back no matter what happens. Our policies typically cover:
- Cost to replace or repair damaged equipment
- Cost for equipment company’s time and labor to repair/replace equipment
- Revenue loss for your company when equipment breakdown leads to business interruption
- Damaged goods as a result of equipment breakdown
There are more things to consider when purchasing Equipment Breakdown Insurance, too. For example, what if your business is affected as a result of another company’s equipment failure? What if other properties suffer damage as a result of your equipment’s breakdown?