Machinery Breakdown Insurance
If the continuity and turnover of your business are heavily reliant on machinery and equipment, a damaged party or breakdown could affect your capacity to operate.
Machinery breakdown insurance covers the costs for repair or functional replacement of fixed mechanical, pressure and electrical equipment that breaks down. With that, a machinery breakdown insurance policy can protect you and your business from financial loss when things don’t go as planned.
Learn how EWIB can help you
We understand that the cost to repair or replace equipment that unexpectedly breaks down can place a significant financial strain on your business. Imagine what could happen if you’re unable to afford the cost to repair a key piece of equipment? This could put all trading activities to a complete halt. Having machinery breakdown insurance helps to compensate you for your lost income in the event of an unexpected breakdown of machinery or any electronic equipment.
There are differences between all machinery breakdown policies and not all will offer the same cover you may require. At East West Insurance Brokers, we’ll go the extra mile to study what is required in your business and present to you tailored solutions that are most suited in your line of work.
Benefits in this policy may include:
- Costs incurred to repair/replace items following an instance of breakdown
- Costs incurred because of ruined stock following an instance of breakdown
- Cover provided for loss of profits, etc. due to breakdown
- The costs to hire temporary equipment to keep the business going
- The professional fees associated with proving or quantifying a loss
- Any costs reasonably incurred to make temporary repairs, expedites permanent repairs or replacement
Why Is Machinery Breakdown Insurance Important?
Having machinery breakdown insurance is crucial, especially if your business heavily relies on machinery or equipment to operate. At East West Insurance Brokers, we can arrange cover specifically for machinery that’s important to your business.
For example, if the motor driving the rotating trays in your oven burns out at your bakery, this could totally halt your production of goods. Your machinery breakdown insurance policy would cover the repair or replacement of the insured machine as well as the loss of profits caused by the breakdown interruption when running your business.
Our aim is to help and support you in the event of an unexpected situation. We strive to equip you with a solution that provides you with peace of mind and greater confidence when it comes to the future of your business.
How Confident Are You that Your Insurance Risks are Adequately Covered?
East West Insurance Brokers aim to arrange the most appropriate cover for you by providing tailored solutions to suit your business needs. We will also support and assist you, in the event of a claim.
Speak to us to ensure your business is protected with appropriate machinery breakdown insurance today.
*Please note all insurance policies have exclusions. Please refer to the Product Disclosure Statement or Policy Wording before deciding whether the insurance policy meets your needs.