Equipment Breakdown Insurance Products

Compare 140 products offered for Equipment Breakdown Insurance from 63 companies including Ansvar Insurance Ltd, NTI Ltd, and Focus Underwriting.

Our Insurance Comparison Tool allows you to pick the policy that's right for you by comparing every plan offered by Canada's leading providers. Stuck? Our Frequently Asked Questions can answer questions on Equipment Breakdown Insurance

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Products 11 to 20 of 140
Product name Max Coverage Min Premium Exclusions
Caravan Dealers by Associated General and Dealer Underwriting Agency Pty Ltd Max Coverage AUD20M Min Premium N/A


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Farm and Agricultural Equipment Dealers by Associated General and Dealer Underwriting Agency Pty Ltd Max Coverage AUD20M Min Premium N/A


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Truck and Light Commercial Dealers by Associated General and Dealer Underwriting Agency Pty Ltd Max Coverage AUD20M Min Premium N/A


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Business Pack by Global Transport and Automotive Insurance Solutions Pty Ltd Max Coverage AUD5M Min Premium N/A
  • wilful acts, omissions or recklessness


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Mobile Plant and Equipment by One Underwriting Pty Ltd Max Coverage AUD500K Min Premium N/A


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Restaurant by Breeze Underwriting (Aust) Pty Ltd Max Coverage AUD20M Min Premium N/A
  • bars / night clubs
  • pubs / taverns
  • risks with licensing hours after 1am
  • risks with live entertainment
  • timber constructions


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Healthcare Business Package by Medisure Indemnity Australia Pty Ltd Max Coverage AUD20M Min Premium N/A


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Specialty Consumer Products (SCP) by DUAL Australia Pty Ltd Max Coverage N/A Min Premium N/A


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Energy by AIG Australia Ltd Max Coverage US$1,000M Min Premium N/A


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SME Solutions by AIG Australia Ltd Max Coverage N/A Min Premium N/A


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Frequently Asked Questions

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What Is Equipment Breakdown Insurance?

Equipment Breakdown insurance (previously known as Boiler and Machinery (BM) insurance) is a type of property and casualty insurance specific to types of machinery. It covers any loss incurred due to the breakdown of faulty equipment as well as the costs to repair or replace any damaged equipment in question.

Who Needs Equipment Breakdown Insurance?

Any business that uses or relies on equipment or machinery for its operations needs Equipment Breakdown insurance. Whether it is the breakdown of a computer or the failure of an electrical system, all it takes is for one fault to disrupt business operations. This can result not only in expensive costs to repair the fault but the financial loss incurred during a service interruption.

 

Typical sectors that require Equipment Breakdown insurance include:

  • manufacturers
  • office buildings
  • municipal buildings
  • healthcare facilities
  • retail
  • auto repairs
  • construction
  • transportation
  • information technology

What Types Of Machinery Are Covered By Breakdown Insurance?

Whether the machinery is located in a workshop or in a boiler room, Equipment Breakdown insurance protects a wide range of equipment types essential for business operations. This can include some of the following:

 

  • computers and telecommunications equipment
  • business equipment (photocopiers, fax machines, printers, etc)
  • boilers and pressure vessels
  • heating and ventilation systems (HVAC)
  • air conditioning
  • electrical equipment
  • production machinery
  • security systems (CCTV , fire alarms, etc)
  • retail point of sale equipment
  • generators
  • escalators and elevators
  • engines
  • water pumps
  • food processors

What Does Equipment Breakdown Insurance Cover?

Equipment Breakdown is primarily focused on the physical and financial losses created when a piece of machinery breaks down. As well as covering any financial loss caused during a halt or delay in business operations, Equipment Breakdown insurance will also cover the costs in repairing or replacing the defective machinery as well as inspections of the equipment.

 

A piece of equipment could breakdown for any number of reasons, including:

  • moisture or high humidity
  • overloaded circuit
  • electrical surges or power interruption
  • loose connections
  • vibrations
  • contamination
  • misalignments
  • foreign materials

What Is Not Covered By Equipment Breakdown Insurance?

Equipment Breakdown insurance focuses on faults, breakages, damage and other risk areas related to machinery operation. However there are several causes of damage which are generally excluded by most Equipment Breakdown insurance policies. These are:

 

  • general wear and tear
  • gradually developing conditions
  • rust, decay or general deterioration
  • negligence or poor maintenance
  • deliberate acts

How Is Equipment Breakdown Insurance Sold?

Equipment Breakdown insurance can be bought either as a monocline (or standalone) policy or as part of a Property insurance policy – included as part of the policy form or as an add-on endorsement to the overall policy

How Much Does Equipment Breakdown Insurance Cost?

The cost of Equipment Breakdown insurance is largely determined by two factors; the coverage of the machinery and the coverage of business operations. Depending on the number of pieces of equipment that need insuring, the cost to repair or replace them and any potential related damage will affect the amount of coverage needed.

 

The same applies to restoration costs for a business interruption which will compensate for any potential financial loss incurred during the halting of service.