It’s not only manufacturing processes which are getting increasingly sophisticated – buildings too are becoming more and more reliant on complex and advanced systems for heating, power, lighting and ventilation. From production equipment and machinery to electrical appliances and building systems, businesses rely on their continuous and constant running to deliver consistent service to their customers. But when equipment breaks down – whether it’s part of the manufacturing process or the building’s mechanical or electrical systems – the result can be a real problem. The costs to a business can be high, not just from the replacement or unplanned maintenance of the equipment, but from the business interruption and possible loss of customers or profits.
Equipment breakdown coverage from the Axis Insurance Group is a specific type of property insurance which has been created to mitigate financial losses caused by accidental breakdown to named pieces of equipment. Although large utility companies and manufacturers would normally have this kind of coverage in place, small businesses should also have a policy in place. Nearly every company – large or small – has a substantial investment in equipment, and having the right breakdown insurance in place will give you the peace of mind that you’re protected in the event of a vital piece of machinery or building service breaking down.
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