What Businesses in Massachusetts is Equipment Breakdown Insurance Right For?
Any business that relies on equipment which is essential to daily operations may be interested in an equipment breakdown policy. The type of equipment can range from basic machines to highly specialized ones. As long as the equipment necessary for vital operations, an equipment breakdown policy might be appropriate.
Some examples of Massachusetts businesses that might benefit from a policy include:
- Food processing facilities that have specialized machinery
- Retailers that ring up customers via point of sale systems
- Manufacturing facilities that have robotic machines
- Hotels that need air conditioners, furnaces and heaters to keep rooms comfortable
- Assisted living facilities that have HVAC and medical equipment to maintain
What Costs Do Equipment Breakdown Insurance Policies Cover?
If a business suffers a covered equipment malfunction, an equipment breakdown insurance policy might cover the following costs:
- Repair costs paid to service providers
- Emergency repair fees charged by service providers
- Labor costs if employees make repairs
- Inventory and supplies damaged by the malfunction
- Revenue lost because of the malfunction