- Businesses
- Individuals & Families
- Partnerships
Enabling businesses across a wide range of industries to operate and grow with confidence.
Protecting all that makes your house, your home.
Build your business by providing the protection your customers need – it’s insurance for the new possible.
Boiler and Machinery Breakdown Insurance
Risk scenarios
Who it’s for
Our machinery policy supports many types of businesses and sectors, including:
- Manufacturing and cold storage
- Engineering firms
- Traditional and alternative energy providers
- Printers and publishers
- Airport operators
- Theatres
- Wholesale and retail
- Owners of multistorey office blocks
- Communications and broadcasting
What it covers:
You’re protected for all sorts of equipment issues, such as:
- Machinery and boiler failure
- Mechanical and electrical defects
- Boiler explosion
- Damage to property (insureds and third parties) as a result of machinery breakdown
- Damage following the failure or fluctuation of electricity supply
- Operator error
- Fracturing of machinery due to frost
FAQs
Because your all-risks policy may exclude cover for machine failure, due to a part breaking, or a boiler explosion. If you’re a manufacturer or power company, these are business-critical losses with huge potential implications for your profitability and continued operation. Also, breakdown of a key machine can harm your business if production is stopped or delayed. Our boiler and machinery insurance safeguards your company against these eventualities. Chubb offers the financial ability to pay large losses that some businesses couldn’t afford to fix without insurance; this is especially important in an age when business runs increasingly on a ‘just in time’ basis, and companies may not have spare parts to replace or repair damaged equipment quickly.
A lot more than you might think. You’re protected for the breaking or burning out of any part of the machinery due to mechanical or electrical defects. But you’re also covered for failure or fluctuation of electricity supply; damage caused by the error or omission of operators; and any fracturing of equipment by frost that makes machinery inoperative.
It’s much better value than other types of breakdown insurance. For example, with policies on household goods like washing machines, televisions or computers, the breakdown premium may be as much as 10% to 15% of the value of the item. Commercial breakdown insurance on machinery is often available for much less than 1% of the value of the equipment.