What does equipment breakdown insurance cover?
Equipment breakdown insurance covers any losses that may be incurred due to the breakdown of any electrical or mechanical equipment within a business.
It is similar to standard property insurance, but while traditional cover will protect your business against external factors, such as a fire or flood, a breakdown policy like this protects you when equipment fails. This can include a power surge or a short circuit.
What types of equipment are covered?
Equipment breakdown insurance can cover a wide range of different scenarios, including faults in:
● Photocopiers and scanners
● Telephones and communications systems
● Air-conditioning equipment
● Boilers and heating systems
What cover options does equipment breakdown insurance provide?
In its most basic form, equipment breakdown insurance will cover the cost to replace or repair the machinery that has broken down. However, policies can be adapted to include much more, such as covering any income that may be lost if your business needs to temporarily shut down because of the damage, any additional expenses that could be incurred, and the value of products that are spoiled as a result.
Why do I need equipment breakdown insurance for a nursery?
With babies and young children on your premises, it is essential for all facets of your nursery to be in full working order. This particularly applies to central heating systems in winter and air conditioning units in the hotter months, as these ensure that you are always able to provide the best care. Protecting your premises with this kind of policy means that your business can be back up and running as soon as possible.
What level of equipment breakdown cover should I purchase?
The amount of cover required will depend entirely on your business and your individual requirements. At dot2dot, we tailor our nursery insurance packages to suit your needs. We know that having one rigid universal policy won’t work – everything is bespoke.