If your business owns or rents machinery, it is highly susceptible to a breakdown. This event would not only impact the regular business operations, but can also impact:
Stocks: For example stocks damaged in cold storage machine, Potential earnings There will be loss to business until the equipment is fixed.
Reputation damage: Example, a Bakery business is unable to bake cakes and deliver on time.
Machinery/electronic breakdown insurance covers repairs to your machinery or electronic equipment following a breakdown where there is physical damage.Normal wear and tear is excluded. In the event something does go wrong with an insured machine, this policy will safeguard your business by reimbursing the cost of repair of equipment. Similar coverage can also be effected for electronic equipment.
1. Manufacturing set ups
2. Business which rent machinery or electronic equipment.