Equipment Breakdown Insurance
Coverage that helps pay for the cost to repair or replace business equipment that breaks down due to mechanical or electrical failure
Detailed Explanation
Sometimes called 'Boiler and Machinery' insurance, this coverage addresses damage from internal equipment breakdown that standard property insurance policies often exclude.
Practical Example
A small manufacturing company has equipment breakdown insurance. When their main production machine malfunctions due to an electrical surge, this coverage helps pay for the repairs or replacement of the expensive equipment.
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