Why choose IOA for equipment breakdown insurance?
When things don’t go smoothly, you need to be prepared to get things up and running again quickly, with as little disruption and expense as possible. IOA understands the diverse needs of modern businesses and prioritizes operational continuity and risk mitigation. With IOA, you can access customized solutions that cover your critical equipment and provide proactive risk management strategies.
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Expert advice
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Our brokers have specialized knowledge in their industry classes, ensuring you receive guidance and coverage that address your specific needs.
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Broad equipment coverage
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Businesses from every sector can get the coverage they need, including insurance for specialized equipment.
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Risk management tools
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Mitigate risks before they lead to claims with our industry-leading risk management tools and advice.
Coverage features
Secure coverage for equipment breakdown losses, like spoilage, lost income, and other expenses over and above repairing or replacing your equipment. Equipment breakdown insurance offers more comprehensive and specialized coverage than what is available under a commercial property insurance policy.
Boilers, furnaces, and HVAC
Get help with the cost of repair or replacement of your boilers or other air-conditioning systems that break down due to a covered cause.
Computers
Equipment breakdown coverage can be written to insure office equipment, like computers, printers, and copiers.
Diagnostic equipment
For labs and physician settings, equipment breakdown insurance can cover diagnostic and other medical or testing equipment.
Pressure vessels
Coverage for damage, failure, or malfunction of pressure vessels may also include the costs of inspection, repair, or replacement.
Production machinery
Insurance for machinery breakdowns may be enhanced with extra expense coverage, which helps pay for renting equipment or facilities while your property is repaired or replaced.
Refrigeration and warming appliances
If your commercial oven, refrigerator, or freezer breaks down due to a covered cause, you will have help with repair or replacement costs and lost income. Spoilage of inventory, cultivars, or other refrigerated, frozen, or warmed products or specimens may also be covered.
Telecommunications systems
Costs of repair or replacement, as well as loss of revenue, due to a covered failure of your telecommunications system can be included in an equipment breakdown policy.
Connect with an IOA insurance expert
Speak to an IOA broker who understands your industry, goals, and challenges.
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