Equipment Breakdown Insurance New York
These days, virtually every business depends on some form of equipment or machinery to perform its daily functions. If even one piece of equipment breaks down, it could bring the entire operation to a standstill, which might mean hundreds or even thousands of dollars in lost revenues. In some cases, an equipment malfunction can ruin the goods the machine is producing, which generates additional product replacement costs.
Business Equipment Breakdown Coverage Can Be a Lifesaver
If you operate a business in the New York City area, Astoria-based Kokkoris Insurance Services can provide your company with affordable commercial equipment breakdown coverage that will protect you in the event of an unexpected machine failure. These specialized insurance plans cover various types of incidents such as mechanical breakdowns, operator mistakes, power surges, short circuits, explosions and more. You'll have the peace of mind of knowing a problem with your equipment won't keep your business from moving forward.
What Types of Expenses Does Broiler & Machinery Breakdown Insurance Cover?
A commercial property insurance equipment breakdown policy can help you pay for a variety of costs such as:
- Repairing or replacing damaged equipment or machinery
- Replacing the lost income resulting from the interruption to your business operations due to an equipment failure
- Replacing damaged materials, products or inventory caused by a mechanical breakdown
- Additional expenses resulting from the need to expedite equipment repairs or replacements — such as higher fees or surcharges for emergency or after-hours service
Who Can Benefit From Carrying Business Equipment Breakdown Coverage?
Just about any New York company that relies on equipment or machinery has a need for a breakdown insurance plan. Examples include:
- Restaurants: If you own a dining establishment, you can purchase breakdown insurance for restaurant equipment that covers everything from stoves and ovens to refrigerators and frozen food storage areas.
- Retail Stores: Commercial equipment breakdown coverage protects retailers in the event of a business interruption resulting from a checkout/POS system failure.
- Manufacturing Plants: These policies can cover the expense of repairing or replacing production equipment and any related product damage.
- Healthcare Facilities: Hospitals, clinics and private medical practices can use breakdown coverage to pay for the expense of repairing medical equipment such as x-ray machines, MRI units, PET and CT scanners and more.
- Hotels: The hospitality industry needs equipment breakdown insurance to mitigate the costs of repairing HVAC units, electrical systems, food preparation equipment and plumbing systems.
You should be aware that these types of machine failure-related costs are typically not covered under a standard commercial property insurance policy, which is why you also need the additional breakdown coverage. So many business owners don't discover this until it's too late!
Trust Our Quarter Century of Experience
For more than 25 years, Kokkoris Insurance Services has been helping New York companies just like yours get the insurance protection they need to avoid a financial catastrophe. We'll work with you to develop a tailored commercial equipment breakdown coverage plan that meets your needs and fits your budget.
Contact us for more information and a no-obligation quote today!
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