Does your organization rely on big machines and equipment?

Boiler and machinery insurance (or equipment breakdown insurance) can help cover the financial losses caused by the unexpected breakdown of heavy machinery - from HVAC and refrigerating systems to engines and turbines.

Choosing between property and breakdown insurance

You might be wondering, shouldn’t your property insurance cover most of the hazards that can occur to heavy equipment? Most property insurance policies do indeed cover your machinery from the financial losses caused by fire, wind, or other covered perils. But they also mention exclusions for losses caused by sudden boiler explosions or mechanical failures.

Boiler and machinery insurance exists to fill in the gaps in your property insurance policy regarding the physical damage and breakdown caused to your insured equipment because of specified accidents.

What “accidents” typically cause equipment breakdown?

Boiler and machinery insurance coverage protects your business against the risks of machinery breakdown, often caused by:

• Electrical power surges
• Vibrations
• Machine operator or maintenance error
• Machine defects or poor quality

Why buy boiler and machinery insurance?

In an age where people are trying to cut down on labor costs, the dependence on well-oiled, fully-functioning machines and robots has increased exponentially. Losing the functionality of even one electrical appliance or mechanical system can stall critical operations and damage your company’s reputation.

A boiler and machinery insurance policy gives you the peace of mind you need in knowing that your business can continue even when accidents happen. Having the right equipment breakdown policy and coverage amount will provide:

• Financing for repairs or temporary machine rentals,
• Coverage for lost business income due to machine breakdown, and
• Continuity in operations - no matter what.

Ready For A Quotation?

Carriage Trade Insurance Agency has years of experience and expertise in the commercial insurance business. With access to several industry leaders in boiler and machinery insurance, Carriage Trade can help you find comprehensive coverage for your company’s unique business needs.