Engineering Insurance
It is certainly true that businesses cannot carry out their work effectively without such things as machinery, plant, computers and other electronic equipment. For the smooth running of your company and to provide protection for these important assets against a wide range of risks, you should consider the myriad benefits of choosing to buy engineering insurance.
What can the policy cover?
Engineering insurance policies can offer coverage for a number of different eventualities, including the breakdown of computers, electronic equipment and machinery, plus the deterioration of stock. In order to mitigate the risks and keep your operations in full flow you can decide on help from engineering inspection services.
Both small and large risks can be insured by this policy. Whether your risks derive from plant, machinery or construction; high tech equipment or computer installations; this can all be covered under the one engineering insurance policy.
There are also additional options that can be considered to cover an even wider range of risks, accounting for all possible contingencies, so you have the perfect insurance solution for your business.
The various product features associated with engineering insurance are shown below;
- Damage to installed machinery – this includes the temporary hire of replacement property following damage.
- Owned and hired plant.
- Engineering business interruption – loss of profit or revenue against accidental failure, breakdown, public supplies or due to sudden or unforeseen damage (SUD).
- Contract works machinery plus machinery movement.
- Electronic equipment – all risks cover for music / recording and medical equipment.
- Computers – all risks cover regarding data records and hardware, with extensions including increased cost of working (ICOW) and the reinstatement of data (ROD).
- The deterioration of stock (DOS) – this will cover foodstuffs or products kept in chillers, deep freezers and cold stores against temperature changes due to supply failure or breakdown.
To discuss your requirements further please speak with a member of the team on 01604 630003.
