Boiler and Machinery Breakdown Insurance

Because your all-risks policy may exclude cover for machine failure, due to a part breaking, or a boiler explosion. If you’re a manufacturer or power company, these are business-critical losses with huge potential implications for your profitability and continued operation. Also, breakdown of a key machine can harm your business if production is stopped or delayed. Our boiler and machinery insurance safeguards your company against these eventualities. Chubb offers the financial ability to pay large losses that some businesses couldn’t afford to fix without insurance; this is especially important in an age when business runs increasingly on a ‘just in time’ basis, and companies may not have spare parts to replace or repair damaged equipment quickly.

A lot more than you might think. You’re protected for the breaking or burning out of any part of the machinery due to mechanical or electrical defects. But you’re also covered for failure or fluctuation of electricity supply; damage caused by the error or omission of operators; and any fracturing of equipment by frost that makes machinery inoperative.

It’s much better value than other types of breakdown insurance. For example, with policies on household goods like washing machines, televisions or computers, the breakdown premium may be as much as 10% to 15% of the value of the item. Commercial breakdown insurance on machinery is often available for much less than 1% of the value of the equipment.