Many businesses depend heavily on complex machinery for their operations. Breakdowns can bring the business to a halt, and the race to repair or replace the faulty equipment can be a costly one. Cover against losses from machinery failure ought to be an integral part of your business owner’s insurance. Sydney Insurance Brokers’ team includes specialist in this complex field, and we can create a custom solution for the particular needs of your business.
Some Things to Consider When Buying Machinery Breakdown Insurance
Redundancy; technology moves so fast these days that simply replacing irreparably damaged machinery may not be possible. Your cover should contemplate the possibility that direct replacements may not be available, and should assure you of replacement with machinery of like capability.
Loss-minimisation; measures such as temporary hire pf replacement equipment can greatly reduce the overall loss suffered by a business as a consequence of machinery breakdown. A good business insurance policy will provide for reimbursement of these costs.
Down Time; you are almost certain to lose production when machinery breaks. Your insurance should cover you against losses in the event that production is suspended in excess of a specified period of time.
Comprehensive Cover; when your business owner’s insurance policy covers all your risks, you have a single point of contact with an organisation that is committed to minimising the overall loss to your business of insured events. At Sydney Insurance Brokers we can call on experts on all kinds of industrial machinery – experts who can swiftly appraise a damaging event and assist in working out the least costly path to recovery.
Make sure your machinery has the cover it deserves – call Sydney Insurance Brokers and talk to an industrial machinery expert today.