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Bespoke Insurance Group

B-04Business

Machinery Breakdowninsurance.

Cover for sudden breakdown of essential machinery and equipment.

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B-04 · Elevation

01 · The exposure

When one machine stops, everything behind it waits.

Standard property policies typically exclude mechanical and electrical breakdown. Machinery breakdown insurance is designed to respond to the sudden and unforeseen failure of machinery, such as refrigeration, compressors, production lines and electrical plant, and can be extended to the resulting loss of income or spoiled stock.

02Scope

What this covercan respond to.

A general guide. What a particular policy covers depends on its wording, limits, conditions and exclusions, and on what is declared to the insurer.

  1. 01Sudden and unforeseen mechanical or electrical breakdown of insured machinery
  2. 02Repair or replacement costs, subject to the policy
  3. 03Deterioration of refrigerated stock following breakdown, where included
  4. 04Consequential loss of income, where included
Often discussed byManufacturersFood production and cold storageHospitality venuesCommercial property owners with lifts and plant rooms

03What we look at

Where the detailmatters.

  • Age and maintenance

    Insurers will ask about the age, servicing and condition of key items. Good maintenance records help.

  • Critical path items

    Identify the machines whose failure would stop the business. They deserve the closest attention.

04 · Before we talk

Questions yourbroker will ask.

Having these answers to hand makes the first conversation faster and the submission to insurers stronger.

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  1. Which machines would stop your business if they failed?
  2. How old are they, and how are they maintained?
  3. Do you hold refrigerated stock?

05 · Questions

Frequently asked.

Is wear and tear covered?

No. Gradual deterioration and wear and tear are generally excluded. The cover is for sudden and unforeseen breakdown.

Related cover

Commonly part of programs for property & strata and small & medium business.

Talk machinery breakdownthrough with a broker.

A short conversation is usually the fastest way to know where you stand. No obligation, and no form required if you would rather call.

Speak to a brokerRequest a quote

Or call 1300 513 652, answered 24/7