The information required for Machinery Breakdown Insurance depends on the size and complexity of the equipment exposure.

What equipment information may be required? #

This can include:

• Type of machinery.
• Make and model.
• Age.
• Replacement value.
• Location.
• Power or capacity.
• Number of units.
• Whether equipment is owned or leased.

For larger risks, an equipment schedule may be required.

What maintenance information can insurers request? #

Insurers may ask about:

• Preventative maintenance.
• Service contracts.
• Inspection frequency.
• Manufacturer servicing.
• Previous breakdowns.
• Major repairs or upgrades.

What about refrigeration equipment? #

Businesses with refrigeration may also need to provide:

• Refrigeration values.
• Type of system.
• Age.
• Maximum stock exposed.
• Temperature monitoring.
• Alarm systems.

Deterioration of Stock cover may need to be separately selected.

What Business Interruption information might be needed? #

For critical machinery, consider:

• Replacement lead time.
• Repair time.
• Alternative machinery.
• Production capacity.
• Financial impact of downtime.
• Availability of temporary equipment.

Why are accurate values important? #

Replacement costs can differ significantly from accounting values.

Consider the actual cost to:

• Purchase replacement machinery.
• Transport it.
• Install it.
• Commission it.

Specialist or imported machinery may also have substantial freight and installation costs.