Mechanical Breakdown Insurance Coverage
Mechanical Breakdown coverage for New York companies is the more modern term for Boiler & Machinery insurance, and while we still use the term “boiler” in noting this coverage, the policy form insures a wide variety of equipment and machinery beyond just boilers.
The need for Mechanical Breakdown Coverage is due to limitations in the property policy which exclude things like malfunctions, breakdowns, and the common boiler issues. Today, breakdown coverage can be very broad to cover just about any electrical, pressure or mechanically driven system, machine, boiler, or equipment for perils such as:
- Electrical arcing
- Artificially generated electricity which causes damage
- Centrifugal force
- Overheating, cracking, bulging or sagging of a boiler or pressure vessel
What Equipment is Covered Under a Mechanical Breakdown Insurance Policy?
The policy form can be tailored to include “direct damage” – meaning the repair or replacement of the damaged machinery or equipment; as well as Business Income coverage – which insures your income lost during a shut down due to a covered breakdown. In addition, spoilage coverage can also be purchased to cover food and other perishable goods that spoil due to the loss of power or refrigeration (due to an accident). Common examples of equipment covered under a Mechanical Breakdown policy for New York businesses include:
- Boilers, pressure vessels, water heaters,
- Electrical distribution systems,
- Heating & cooling systems,
- Refrigeration systems, freezers, coolers, walk-ins,
- Production equipment,
- Office equipment,
- Diagnostic equipment, and more.
For manufacturing businesses in New York which rely on boilers, machinery and other equipment purchasing appropriate limits of coverage for direct damage, business income and spoilage exposures is important. Most policies include required jurisdictional inspections and loss control services to avoid disruptions and accidents.
Serving Rockland County & New York with Mechanical Breakdown Insurance
Since 1929, The Coyle Group has been serving businesses with Mechanical Breakdown Insurance in the Rockland County communities of: New City, Nanuet, Haverstraw, Pearl River, Stony Point, Suffern, West Nyack, Congers, Valley Cottage, Nyack, Orangeburg, Blauvelt, Palisades, and Chestnut Ridge; the Orange County communities of: Goshen, Pine Bush, Middletown, Newburgh, New Windsor; the Westchester County communities of: White Plains, Yonkers, New Rochelle, Bedford, Elmsford. And in New York City – Manhattan, Bronx, and Brooklyn.
For more information on Mechanical Breakdown / Boiler & Machinery Insurance, please contact us in New City, New York at 845-634-3606.