Equipment breakdown insurance - five key benefits

Today’s machinery and equipment for businesses and organisations is more high-tech and specialised than ever, but it can also be more unpredictable. As machinery has evolved, so too have the risks. Exposures have changed considerably in recent years due to a reliance on integral equipment which has become more complex and sophisticated, where it is potentially exposed to a greater possibility of damage.

As technology continues to get smaller, the stakes could become larger for businesses and organisations who rely upon equipment as the backbone of their operations to compete in challenging market conditions.

Sudden and unforeseen damage to equipment is a commercial reality and can cause significant ramifications through downtime, disruption, and financial losses, in the blink of an eye. Businesses must contend with not only the unexpected cost pressure of repairing or replacing what is broken, but also protecting revenue streams from dissatisfied customers as a result of delays and longer lead times.

Designed for insurance brokers and supported by HSB’s own research, this whitepaper will consider why equipment breakdown insurance could be essential in an unpredictable environment.

Topics covered:
• Navigating the future of equipment breakdown insurance.
• Equipment exposures that businesses and organisations may typically overlook.
• Why equipment breakdown cover is commonly misunderstood.
• The true cost of equipment failures.
• Equipment breakdown insurance - typical coverage.
• Debunking equipment breakdown insurance myths.
• Equipment breakdown insurance – five key benefits.