Machinery Breakdown Insurance
Machinery Breakdown Insurance covers you for a loss with mechanical failure of your machinery, plant and equipment including boilers and pressure vessels. It provides protection against sudden and unforeseen damage (including accidental damage) and assists with repairing, refurbishing and/or rectifying your equipment to get your business running again.
Boiler and Pressure Vessel Breakdown and/or Explosion
This coverage protects your business against the significant costs associated with the breakdown or explosion of boilers and pressure vessels. It covers repair or replacement expenses for these critical pieces of equipment, which can be particularly expensive due to their specialised nature and the potential for catastrophic failure that could damage surrounding property and equipment.
Mechanical Failure
This coverage addresses the costs of repairing or replacing machinery that experiences mechanical failure during normal operation. It ensures your business can quickly recover from unexpected breakdowns without bearing the full financial burden of repairs or replacements, helping maintain operational continuity and protecting your capital investment in machinery.
Deterioration of Stock as a Result of Breakdown of Refrigeration Equipment
This coverage protects businesses against financial losses when refrigerated stock deteriorates due to equipment breakdown. It compensates for the value of spoiled goods when refrigeration systems fail, providing crucial protection for businesses in food service, pharmaceutical, medical, and other industries that rely on temperature-controlled storage.
Electronic Breakdown of Machinery Components
This coverage focuses on the electronic and computerised components integrated into modern machinery and equipment. It covers repair and replacement costs when sensitive electronic controls, circuit boards, and computerised systems fail, addressing the unique vulnerabilities of today’s technologically advanced equipment.
Motor Burnout / Fusion
This coverage specifically addresses electrical damage to motors caused by power surges, electrical shorts, or overheating. It covers repair or replacement costs for motors that burn out or experience fusion, protecting businesses from unexpected expenses associated with this common form of equipment failure.
Business Interruption as a Result of Breakdown
This coverage provides financial protection for lost income and ongoing expenses when machinery breakdown causes business operations to halt or slow down. It helps maintain your business’s financial stability during the repair period, covering lost profits, fixed costs, and additional expenses incurred to minimise the disruption.
Your protection -
Our priority
Don't let the complexity of insurance get in the way of your peace of mind. Simply fill out the form and one of our expert insurance brokers will contact you to help you find the coverage you need.
What types of businesses should consider Machinery Breakdown Insurance?
Machinery Breakdown Insurance is particularly valuable for manufacturing businesses, food processing facilities, printing companies, engineering workshops, refrigeration-dependent businesses such as restaurants and bars, healthcare facilities with specialised equipment, and any operation that relies heavily on machinery for daily operations. Essentially, any business with significant investment in mechanical, electrical, or pressure equipment should consider this coverage.
How is Machinery Breakdown Insurance different from Property Insurance?
While Property Insurance typically covers damage from external events like fire, storms, or theft or accidental damage, Machinery Breakdown Insurance specifically addresses internal failures and malfunctions that occur during normal operation. Property insurance generally excludes mechanical or electrical breakdown, creating a crucial coverage gap that Machinery Breakdown Insurance fills for businesses reliant on equipment.
Can I customise the policy to cover specific high-value equipment?
Yes, Machinery Breakdown policies can typically be tailored to provide specified item coverage for particularly valuable or critical pieces of equipment. This customisation allows for higher coverage limits and sometimes reduced excess amounts for your most important machinery, ensuring adequate protection for your most significant investments.
Are preventive maintenance costs covered under Machinery Breakdown Insurance?
Machinery Breakdown Insurance generally does not cover routine maintenance costs, as these are considered normal operating expenses. However, some policies may include cover for inspections required by regulatory authorities or offer loss prevention services. Additionally, maintaining proper equipment maintenance records is typically required to ensure claim validity should a breakdown occur.
Is wear and tear covered under a Machinery Breakdown Policy?
Generally, wear and tear is not covered under a machinery breakdown policy, which typically covers sudden and unforeseen physical damage to machinery, rather than gradual deterioration.
Let us lead you to victory.
Why work with Knightsbridge Insurance Group?
Knightsbridge Insurance Group is an Insurance Broking Business with over 70 years of collective insurance experience and is founded on generational values that make you feel secure, protected and cared for. As we grow and expand the Knightsbridge Family, we continue to have a deep understanding of your desire to innovate and be extraordinary — both in business and in life.
We Give to Earn
Evolution is a Process — not a One-Off
Great Minds, Think Differently (not Alike)
Connection Matters
The most important thing in communication is hearing what isn’t said.
Peter Drucker
Reach out to Johnnie today.
Johnnie Macleod is a seasoned and respected insurance professional with more than 38 years experience across underwriting management, insurance underwriting and broking. From early on, Johnnie discovered a natural flair for insurance, and his career has taken him across three continents and working for some of the biggest insurance companies in the world.