Equipment Breakdown Insurance protects your business from the loss caused by accidental breakdown of equipment.
The damage to mechanical and electrical equipment due to external event, such as fire is covered by the standard property insurance policy. However it will not be covered if damage caused by internal cause such as:
Can you imagine your business without electrical devices? If you use machines, mechanical or electrical devices, they are important for your business operations.
Equipment Breakdown Insurance provides protection to:
-Air conditioning and refrigeration
-Computers and telecommunications
-Retail “point of-sale” systems
-Elevators and escalators
-Hot water heaters
-Motors and pumps
I do not own much equipment, because I am a tenant. As a tenant, the responsibility of equipment maintenance and repair should be stated on the lease agreement. Even though you are not responsible for it, you may incur loss of income due to the breakdown of landlord’s equipment. With Business Interruption coverage under Equipment Breakdown Insurance, loss of income due to Equipment Breakdown would be compensated.
We do risk assessment of your equipment breakdown and loss of income including consequential loss.