Boiler and Machinery
Equipment today contains susceptible and fragile technology that is easily damaged and warranties and service contracts do not cover many of the causes of equipment breakdown. Property insurance policies exclude losses such as those resulting from mechanical breakdown, electrical arcing and boiler explosion or rupture.
Boiler and Machinery insurance is designed to cover the sudden and accidental breakdown of not only a boiler and its machinery, but also various other equipment such as refrigeration and air conditioning, piping, turbines, pumps, engines and electric motors, generators, compressors, etc, including their parts. It is sometimes referred to as Equipment Breakdown Coverage.
Boiler and Machinery insurance policies provide extended coverages for such items as expediting loss remediation, defense costs, newly acquired locations, cleanup costs and hazardous material disposal. Additional coverage may be purchased for loss of business income, the extra expenses incurred to return to normal operations and consequential damage.
Selecting the proper Boiler & Machinery coverage is an integral component of a complete insurance portfolio. The proper coverage extensions for production machinery, electronic data processing equipment and business interruption can be invaluable in minimizing the disruptions to your business at the time of a loss.
A major benefit of boiler and machinery insurance is the inspection service that the insurer provides.
The sudden and unexpected breakdown of your mechanical, electrical, electronic or pressure equipment can seriously affect your business. Call an M. Edward Powell Insurance Brokers Ltd. specialist to provide options and the right solution to suit your business needs.