Essential coverage to keep your business running.
Our world is becoming more technologically dependent.
All businesses depend on some form of equipment to run their day to day operations. A breakdown to one of these key pieces of equipment can cause unforeseen expenses. Help your customers protect their equipment, and minimize interruption to their business with Intact's enhanced Equipment Breakdown insurance.
Two distinct products to best suit your customers' needs
EQUIPMENT BREAKDOWN ADVANTAGE
A customizable product ideal for more complex risks
EQUIPMENT BREAKDOWN MAX
An all-in-one coverage for low to medium hazard risks
Redesigned and Flexible Coverage
Choice between the Equipment Breakdown MAX and Equipment Breakdown Advantage
Both products can be issued on a standalone policy or packaged with an Intact Insurance property policy
Enhanced to address the most common exposures faced by businesses in today’s technology dependent economy, including coverage for electronics and microcircuits
Advanced and Mobile:
Options ideal for complex risks such as manufacturing and processing.
Includes limited coverage for off-site mobile equipment and expanded coverage on-site for equipment mounted on mobile objects.
Extensions for environmental and technological upgrades in the event of a loss
Benefits for your customers
Coverage available includes:
BUSINESS INTERRUPTION COVERAGE
Hover over each coverage type below for more information
Click on the icons below to view each scenario.
In January, a hot water radiator connected to a boiler used for heating developed a crack due to metal fatigue. This caused hot water to leak into the radiator room causing water damage to the flooring and some fixtures. The motel had to close for two weeks while the radiator was replaced.
The Equipment Breakdown MAX indemnified the hotel for the cost to replace the radiator. The water damage was covered by the Water Damage coverage extension (sublimited at $500,000). As the loss took place during high season, the motel also lost a substantial amount of bookings, impacting their business income.
Claim amount: $150,000
Tool and Dye Manufacturer:
While running a normal production on a 2000 ton press, an operator noticed vibration and loud noises. The press was stopped to investigate, and it was determined that the press could not be used until an expert analysis of the issue was performed by an external repair company. Due to the press being overloaded, it was determined that a mechanical failure had occurred. The eccentric gear inside the feeder side of the press had seized. Cracks were also found in the crown while assessing the issue.
The cracks needed to be fixed to maintain the integrity of the press. The Equipment Breakdown Advantage covered this repair, along with the substantial business interruption resulting from the downtime of the press.
Claim amount: $2,500,000
The welds on the elevator`s hydraulic system failed resulting in a breakdown. The cylinder required replacement, which had to be ordered from China.
The Equipment Breakdown MAX provided coverage for the repair of the elevator including the labour costs. As the elevator was vital for many of the shopping centre’s clientele, the part had to be expedited from China, and this additional cost was covered under the Expediting Expenses extension.
Claim amount: $70,000
A field service technician was sent off-site to a client to diagnose a cracking issue in a gearbox. While using an ultrasonic testing machine, there was a power surge that damaged the power supply of the testing machine.
The ultrasonic testing machine had to be repaired by an electronics specialist. The Equipment Breakdown Advantage provided coverage for the repair under the off-site mobile equipment provision (sublimited at $25,000).
Claim amount: $17,000
An advanced monitoring fire system panel at a luxury condominium stopped working due to a microprocessor burnout. The manufacturer did not offer replacement motherboards; therefore the entire fire panel had to be replaced.
The Equipment Breakdown MAX indemnified the client for the costs to replace the fire panel, as well as the additional costs for the reprogramming of the fire monitoring system.
Claim amount: $70,000
Equipment Breakdown MAX Fact Sheet
Equipment Breakdown Advantage Fact Sheet
Frequently Asked Questions
Below you will find answers to common questions about our Equipment Breakdown products.
If you have a question which has not been covered on this page, please contact your business development manager or equipment breakdown underwriter.