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Equipment Breakdown Insurance
Industrial and technological equipment and machinery:
What can be insured against?
What affects the cost of the policy?
- Cranes: Equipment for lifting and moving heavy objects on construction sites and in manufacturing plants.
- Presses: Equipment for pressing and shaping materials, such as a paper press or metal press.
- Printing presses: Printing equipment, including offset printing presses and other devices for printing images on paper or other materials.
- Robots: Automated devices used in industry to perform various tasks such as assembly, welding, and packaging.
- Conveyor Lines: Systems for transporting materials or products on conveyor belts in manufacturing or warehousing facilities.
- Crushers: Equipment for crushing materials, such as crushers for ore, stone, or other solids.
- Turbines: Machines that convert kinetic energy into mechanical energy, used in power plants and other industrial processes.
- Boilers: Equipment for generating steam or hot water, used in thermal power plants and various industrial processes.
- Generators: Equipment for producing electrical energy, often used in power systems and backup power supplies.
- Pumps: Equipment for pumping liquids, including pumps for water, oil, or chemicals.
- Milling Machines: Equipment for machining metals and other materials by milling.
- Lathes: Equipment for machining parts on lathes used in machining.
- Gators: Equipment for creating and controlling the flow of gas or air, perhaps this is a typo and meant air compressors.
- Compressors: Equipment for compressing gases used in a variety of manufacturing and industrial processes.
- Transformers: Electrical equipment designed to change voltage levels in electrical systems.
- Motors: Machines that convert energy into mechanical work, used in various industrial applications.
What can be insured against?
- Internal explosions or collapses: Damage caused by internal pressure changes in the equipment.
- Internal collapses or breakages: Damage caused by centrifugal force.
- Cracks: Damage resulting from cracks in equipment.
- Overheating: Damage caused by excessive heating of equipment.
- Jamming: Problems caused by jamming or blockage of moving parts of equipment.
- Defects in design or materials: Damage caused by defects in the design, materials, or manufacture of the equipment.
- Misuse: Damage caused by improper use of the equipment.
- Carelessness and Mishandling: Damage caused by the owner or user's careless handling of the equipment.
What affects the cost of the policy?
- Equipment Replacement Value: The estimated value required to replace the equipment in the event of a loss.
- Year of manufacture: The date the equipment was manufactured.
- Type of Use: What purpose the equipment has, e.g. industrial, commercial, etc.
- Number of items insured: The total number of pieces of equipment to be insured.
- Types of losses covered by the policy: A list of risks and situations for which the policy provides coverage.
- Insurance deductible: The amount that the insurer will not pay in the event of a loss and that must be paid to the insured.
- History of previous losses: The existence and frequency of previous insured events or losses.