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Equipment Breakdown Insurance for Manufacturers

Fully operational production machinery and supporting infrastructure are critical to meeting production schedules and contract deadlines. The Equipment Breakdown insurance in our ManufacSurance®program covers physical damage for accidental mechanical or electrical breakdown, loss of income due to an equipment breakdown, and extra expense to limit the loss of income or accelerate repairs. These losses are excluded under a standard Commercial Property policy. 

Why Is Equipment Breakdown Coverage So Important?

Technological advances and automation in electronics have increased the complexity of equipment, causing the frequency and severity of breakdown claims to rise. Today’s equipment contains a range of sophisticated controls and sensors, Internet connectivity and advanced electronic sub-components. This technology often requires specialized technicians to diagnose and fix the damaged equipment, increasing both downtime and repair costs. In addition, the nation’s aging electrical grid can cause fluctuating electrical supplies and outages, which can produce electrical surges that can seriously damage equipment and cause a manufacturer to not only experience loss of income but also job cancellations.

Equipment Breakdown coverage protects your bottom line by providing the resources to quickly repair or replace key machinery. It will cover the costs for:

  • Direct physical equipment loss or damage, including the cost to repair or replace the damaged equipment
  • Costs associated with the time and labor to repair or replace the equipment
  • Other expenses incurred to limit the loss or speed the business restoration
  • The loss value of materials damaged while in process
  • Business recovery expenses

Tailored Protection for the Road Ahead

PMIS developed ManufacSurance® to help you address the range of risks you face. As your business evolves and deals with an increasingly changing global business environment, our insurance program will provide you with the security you need to thrive and grow. For more information about our exclusive program, please contact us at 855.910.5788.