Things Break Down ...
Equipment Breakdown insurance can provide coverage for accidents to insured objects; for example: generators and mechanical equipment in a water treatment plant.
Equipment Breakdown Insurance, also known as Boiler and Machinery insurance, provides coverage for accidents to insured objects within facilities such as waterworks and wastewater systems. An accident is defined as a sudden and accidental breakdown of an "object" resulting in physical damage to the "object" that requires the "object" to be either repaired or replaced. Objects may be a pressure object, a mechanical object or an electrical object.
Two Sections ...
There are two sections to the coverage: property damage and indirect damage.
- Property damage:Responds in the event of an "accident" to a defined object in use or connected ready for use.
- Indirect Damage:The same "accident" rule is applied. Indirect coverages are for business interruption, rent or rental value, extra expense, spoilage.
One of the reasons for securing equipment breakdown coverage is that Property Insurance specifically excludes: electrical arcing of motors, generators, circuit breakers, electrical distribution boards, cables and transformers; also explosion of pressure vessels exceeding 15 p.s.i pressure except hot water heaters under 24 inches in diameter; and mechanical breakdown.
My Registered User
To apply for insurance you should first become a Registered User and then complete a brief Organization Profile