Boiler and Machinery Insurance
Boiler and machinery insurance covers machines used in a range of business contexts, from boilers to heaters. Despite the name, boiler insurance applies to a lot more than boilers – it also covers any machine that generates electrical power, including generators and motors. It covers damage to the machine itself, as well as any damage done to the surrounding area through explosions or fire, for example.
Who Needs Boiler and Machinery Insurance?
In short, anyone who runs a business that uses electrical or mechanical devices. Many people have the misconception that this type of coverage is only for large factories and manufacturing units. If you’re a small business owner, you probably don’t use heavy machines, but even the smallest of businesses uses equipment like air conditioners, refrigerators, ovens, coffee machines, etc.
A malfunction in any of these common devices could cause an explosion or fire that could damage to your property, as well as neighboring properties. Boiler and machinery insurance covers all these damages.
Why Do I Need This Type of Coverage?
Have you ever tried to settle a simple insurance claim related to the breakdown of or damage to your machine or equipment? If so, you know how hard it is to get the company to pay for additional damages like destruction of property or loss of business income.
Don’t forget – boiler and machinery insurance covers more than just the damage to the machine itself. It also covers other damages caused by the malfunctioning machine. This may include business loss and property damage.
In fact, some types of coverage will pay for you to set up a temporary business location elsewhere while your regular place of business undergoes repairs.
What Does Boiler and Machinery Insurance Cover?
That depends on the type and number of machines your business uses. For example, some kinds cover a specific boiler that’s recognized by year of manufacturing or number. Other policies cover electrical motors. The more extensive policies cover all kinds of machinery and equipment, as well as damage caused by equipment malfunction.
How Do I Shop for My Company’s Insurance?
Let us do the shopping for you! First, we’ll get to know a little about you and your business. Once we know what kind of business you run, the equipment you use, and what potential risks you face, we’ll shop for the policies that protect you from those risks – at the best price, of course.
Call us at 916-773-3800 today!