Does your business productivity rely on specialized equipment or machinery? If it does, then you would be wise to look into the benefits of equipment breakdown insurance. It is not usually part of a basic business insurance plan.
Ordinary equipment that can be easily fixed or replaced shouldn’t need special breakdown cover. However, you may have a piece of machinery that is unique to your business, and is highly specialized. In this case, a serious breakdown can bring production to a halt for some time as you wait for a specialist repairer, or a part that’s not readily available. The cost can be enormous.
Consider the implications for your business in the event that something goes wrong with this vital piece of equipment. Can you get another one, or parts for it, locally? If not, you may be facing a lengthy period of time before you can be fully operational again. You could suffer some very major losses.
Regular maintenance is the key to keeping your machinery in good running order however, breakdowns or damage isn’t always preventable. Adding breakdown cover to your existing PA business insurance is one way that you can help protect yourself financially if the worst happens.
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