When equipment is working as it should, we take it for granted. But when it breaks down, day-to-day operations can suddenly grind to a screeching halt. For this very reason, this is why equipment breakdown is so important. Breakdowns can happen in virtually any work situation you can think of in any type of business setting. Some examples, to name a few, are:

• Your electrical system short circuits, causing your business to shut down temporarily
• An employee damages your only production machine
• A power surge damages your computer network

While these situations are wildly inconvenient, they cost a lot of money. Any loss of productivity is lost revenue that cannot be retrieved. That’s why Ramey King Commercial offers Equipment Breakdown Coverage and encourages businesses to consider this insurance as part of their day-to-day operations.

Equipment Breakdown insurance, also known as “boiler and machinery” insurance protects against breakdowns caused by surges, motor burnout, boiler malfunction and operator error. Equipment breakdown insurance covers all sorts of equipment—both mechanical and electrical, computers and communication equipment, air conditioning and refrigeration systems, boilers, and pressure equipment. It also covers coverage for new technology.

This specialty coverage can pay for:

• The cost to repair damaged equipment
• Cost for time and labor to repair or replace said equipment
• Business income losses when a covered breakdown causes partial or total business interruption
• Other expenses incurred to limit loss or speed restoration
• The cost to replace spoiled stock or materials

Acquiring Equipment Breakdown Coverage is important even if you don’t own the building in which you operate. While the landlord would be responsible for repairs to the business, your business could be impacted if you lost heat, air, lights, or refrigeration for a couple of days. This specialty coverage helps you pay for that loss of income.

Determining the amount of coverage you need is just as important as acquiring the coverage itself. It’s important to look beyond the face value of the equipment itself and consider all the situations that could occur. What if parts for the damaged equipment aren’t readily available? What if you are closed for an extended period of time? What if damage to the property occurs as a result of your equipment breakdown? These are all questions to consider in protecting your business. Why not find out more information and get started today? Contact a Ramey King Commercial agent to discuss ways to start protecting your business NOW.