Did you know that your business equipment is exposed to a unique set of risks not common to other types of property? When your equipment suffers a sudden, accidental breakdown, as a result of an event like an electrical short circuit or a power surge, your business operations and income flow may stop just as quickly. Standard property insurance does not provide protection against the unique risks associated with the breakdown of equipment. Equipment Breakdown Insurance, also referred to as Boiler and Machinery Insurance, covers accidents involving electrical equipment; air-conditioning and refrigeration systems; boilers and pressure vessels, computers and communications equipment; and mechanical equipment. This insurance will pay the cost of repairing and replacing damaged equipment covered under the policy, costs that often greatly exceed the policy’s premium. Any resulting losses in business income, as well as additional costs incurred in trying to restore operations quickly, may also be covered under such a policy.

Virtually every business needs equipment to operate. If you use electricity; heat, cool, or refrigerate your premises; or manufacture goods on machines, then you do rely on some type of equipment to generate revenue for your business. When that equipment stops, so does your business.

Don’t take that chance. For more information regarding Equipment Breakdown Insurance, please contact us today.