Don’t Let Your Business Go Without Equipment Breakdown Insurance

Don’t Let Your Business Go Without Equipment Breakdown InsuranceDoes your business use heavy-duty machinery to get the job done? What if you own a coffee shop where a top-tier espresso machine is the lifeblood of your business? What would you do if the most significant pieces of equipment of your business break down?

Many business owners think that property coverage will provide the protection they need when it comes to replacing or fixing their broken-down items. However, this kind of coverage generally excludes losses that are caused by mechanical breakdown. This is why having a comprehensive equipment breakdown insurance plan in place will help to keep things running smoothly, even if there’s a major malfunction that halts business momentarily.

The Importance of Equipment Breakdown Insurance

An equipment breakdown policy provides coverage for the breakdown of mechanical items, short circuits, power surges, motor burnout, and operator error. This kind of protection will take over and pay for losses to covered equipment, which can include electrical distribution systems and heating and cooling systems.

Most people think that a typical property insurance plan, such as something provided by local business insurance CT providers, is the only step that needs to be taken. However, general property insurance for your business doesn’t cover mechanical breakdown. That’s why equipment breakdown insurance, a separate and specific form of coverage, needs to be pursued.

Many manufacturing processes require temperature-control systems to be working smoothly. Things like air conditioning and refrigeration, which fall into this category, represent a huge number of breakdown claims in the industry. These items can cost a pretty penny to replace or fix and as a business owner, forking over the funds needed to take care of this isn’t something that should be in your business plan.

What it Covers

Equipment breakdown insurance covers the costs for multiple items and scenarios including:

  • Cost to repair or replace the damaged equipment
  • Expenses for the time and labor to repair or replace the equipment
  • Loss of income when a covered breakdown causes a partial or total business interruption
  • Other expenses incurred to limit the loss or speed up the restoration
  • Cost to replace the spoiled stock or materials

Another major benefit of equipment breakdown insurance is that the insurance provider, such as Byrnes Agency, may provide inspections of insured equipment to help cut down on the frequency and severity of an issue with equipment.

In inspecting the equipment, detection of any potential hazards will come in to help get out ahead of issues and keep your equipment from not only breaking down entirely but even act up moment to moment.

About Byrnes Agency

At Byrnes Agency, we offer insurance solutions that can be tailored to meet your specific needs. Whether you’re looking for personal policies or commercial coverage, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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Dayville Office

Phone: (860) 774-8549

394 Lake Rd

Dayville, CT 06241

United States

Hours of Operation: Monday- Friday 9:00am-5:00pm

Norwich Office

Phone: (860) 886-5498

6 Consumers Avenue

Norwich, CT 06360

United States

Hours of Operation: Monday- Friday 9:00am-5:00pm

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