Boiler & Machinery coverage– also known as equipment breakdown insurance — fills in the gaps in standard commercial property policies. Boiler & Machinery coverage provides protection against the mechanical breakdown of boilers, heating/refrigeration systems, mechanical equipment and computers & communication equipment. Any businesses with machinery and equipment exposures need boiler & machinery coverage including light manufacturers, pharmaceutical companies, heavy manufacturing companies, chemical companies and utilities.
What is covered under Boiler & Machinery coverage:
- Property Damage
- Off-Premises property damage
- Business income
- Contingent business income
- Extra expense
- Service interruption
- Perishable goods
- Demolition
- Ordinance or law
- Expediting expenses
- Hazardous substances
- Data restoration
- Newly acquired locations
- Errors and omissions
- Brand and labels
- Waive of in-use restriction
With the advances in technology, the chance of an equipment breakdown is greater today compared to years past. To protect you business from potential risks, Boiler & Machinery coverage should be a part of your business insurance package. Contact us today to learn more about Boiler & Machinery Coverage and commercial insurance options for your business.