Machinery Breakdown Insurance NZ

What is Machinery Breakdown Insurance?

Machinery breakdown insurance provides cover for the sudden and unexpected failure of plant, machinery, and equipment. Unlike wear and tear, which is generally excluded, this insurance covers sudden mechanical or electrical breakdowns that halt your operations.

This cover is essential for businesses that rely on machinery to operate, as the cost of repairs or replacement can be substantial, and downtime can result in significant lost revenue.

What Does It Cover?

• Sudden mechanical breakdown
• Electrical failure
• Burst pipes and equipment damage
• Cost of repairs or replacement
• Extra expenses during repairs
• Overtime and temporary hire costs

Who Needs Machinery Breakdown Insurance?

Machinery breakdown insurance is essential for businesses that rely on plant and equipment:

• • Manufacturing businesses
• • Food processing companies
• • Construction companies
• • HVAC contractors
• • Printers and packaging companies

Typical Costs

Machinery breakdown insurance costs vary based on the value and type of machinery. Typical costs start from:

• • Light equipment ($50K value): From $350/year
• • Medium machinery ($150K value): From $600/year
• • Heavy plant ($300K+ value): From $1,000/year