What Is Boiler And Machinery Insurance?
This comprehensive property damage protection plan covers the cost of damage to boiler equipment or machinery resulting from accidents, such as a breakdown or explosion. This coverage extends to equipment related to boiler machinery, such as rooftop HVAC equipment, manufacturing equipment, and pressure vessels.
Boiler and Machinery Insurance also includes accident investigation to review accident causes and help you resume regular operations with ongoing risk management. Combined with Business Interruption coverage, your equipment can be covered for necessary repairs and replacement, along with lost income due to business interruptions and additional expenses incurred as a result of the damage.
Extended Boiler And Machinery Coverage
Aside from HVAC systems and other building equipment, Boiler and Machinery Insurance can also be tailored to cover other property damaged as a result of boiler accidents and breakdowns.
This ensures full coverage for a mechanical or electrical breakdown of other appliances and machinery that building management may be held responsible for. With extended boiler and machinery coverage, you can cover the full cost of restoring building operations and tenant satisfaction.
Manage Boiler And Machinery Equipment Risk
Proactive risk management is key to preventing boiler breakdowns and accidents — and for business, avoiding disruptions to regular operations and loss of income. Risk management also keeps your insurance rates steady, which ensures affordable equipment protection and operational expenses.
- Physical surveys: with regular boiler inspections, maintenance crews can easily spot the first signs of damage and get these repaired before the boiler breaks down or an explosion occurs. This includes infrared thermography to spot loose connections, faulty insulation, and dust accumulation, and prevent these from causing electrical fires.
- Preventative maintenance: building management can work with maintenance crews to develop operation instructions, monitoring logs, timelines, and other recommendations to ensure optimal function of boiler equipment.
- Regulation compliance: boilers and other machinery are regulated by municipal and provincial standards in Nova Scotia and New Brunswick for building safety. Compliance reduces your risk and contributes to affordable insurance rates.
Ask Our Brokers
BrokerLink is committed to building safety and the full functionality of some of the busiest buildings in Canada. Our insurance brokers work with various property owners across the country to identify risks in their boiler and machinery equipment and present tailored coverage options from major Canadian insurance providers. Our goal is to equip you with the necessary financial protection to recover from the financial impact or major equipment breakdown so that you can resume normal building operations in no time.