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Boiler & Machinery Insurance / Equipment Breakdown Insurance

What is Covered by Boiler & Machinery Coverage?

Boiler and Machinery Coverage (also known as Equipment Breakdown Coverage) has several parts:

• Damage to covered items from an accident
• Damage to the other property of the insured caused by an accident to the covered items,
• Loss of income due to damage to the items covered and/or damage to other insured property
• Legal expenses incurred for defense against a claim or suit alleging liability under the policy

This coverage is a form of property insurance that protects agains the mechanical breakdown and failure of boilers and other heating and cooling devices, machinery and electrical apparatus in a building. Most machinery and equipment, including electronic devices, can also be  included.

Examples of the types of losses that would be covered by Equipment Breakdown Coverage include:

• A crack develops upon start-up of an aluminum extruding press of a metalworking operation, halting production for 30 days. The total property and business income loss totals almost $1 million dollars.
  
  
• A voltage spike from a utility supplier causes severe electrical damage to a facility's main transformer. The cost for the transformer replacement, as well as temporary rental of a transformer, exceeds $400,000. 
  
  
• A high-rise apartment complex is heated by a large steam boiler. A safety relief valve fails and creates excessive pressure, causing an explosion. The cost of the boiler replacement, and surrounding building damage, totals $500,000.

Simplify Shopping for Boiler & Machinery Insurance

Equipment Breakdown Insurance can be purchased as a stand-alone policy, as part of a commercial package policy or as part of a customized commercial insurance solution.

For over 35 years, Brunswick Companies' business insurance specialists have provided our clients with the expertise to help you identify your exposures and simplify your insurance purchase, providing the information you need to make an informed decision.  We have the "know-how" to help you ascertain the coverage solution that best meets your needs and financial goals.

We provide our clients with access to a wide range of  top-ranked insurance providers. We have extensive experience in reviewing insurance specifications to ensure you have the coverage you need, and can tailor customized specifications when your needs outgrow mass-market policies.

Customized Insurance Coverage Solutions 

Brunswick Companies’ experienced team of professional insurance risk managers provides our clients with the complete arsenal of cutting-edge insurance and risk management solutions and services. We provide a thorough analysis of your exposures and a craft a comprehensive risk management solution specifically designed for your business.

Our in-depth understanding of specialized risks and the insurance products that are available to address your unique needs are the key to developing a customized commercial insurance solution that reduces our clients' cost of risk and improves their bottom line.  

Our role is to handle all aspects of your insurance and risk management, coordinating your coverages and providing consolidation and uniformity in your insurance program.

Who Needs Equipment Breakdown Insurance?

• An important point to note is that the party(ies) served by steam boilers, steam pipes, steam turbines or steam engines, but who do not own, lease or operate such objects, may not need this coverage because the risk posed by such equipment is covered by the property insurance they carry for the explosion cause of loss. A lessee or tenant of a building having nothing to do with the steam heat fed into the premises is one example.  
  
  
• However, the coverage provided is not limited only to boilers. It also applies to machinery and equipment. As a result, a tenant may need this coverage even if no boilers are on the premises. 
  
  
• This type of policy is designed with many industries in mind, including:
  
  
  • Commercial and Residential Real Estate Owners / Property Managers
  • Communications and Broadcasting
  • Electronics
  • Manufacturing
  • Food Processing
  • Hospitals and Nursing Homes
  • Hotels and Motels
  • Light Metalworkers
  • Museums and Cultural Institutions
  • Publishing
  • Schools and Universities