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Construction WorkerYour business operates every day at full speed ahead. You rely on your equipment to keep your products rolling or to get the job done. When something happens and a machine breaks down, what do you do? You may have to stop operations for some time, especially if you are waiting for a part to become available or for a technician to step in. At this point, you are losing money because you cannot operate your equipment, but your vendors and employees still need to be paid, along with rent and utilities. With business insurance, you could minimize these risks.

With business insurance that includes equipment breakdown coverage, you can minimize risks associated with losing the use of valuable equipment. Every policy is different, but some carriers offer equipment breakdown insurance specifically. In all cases, there are a few things to keep in mind.

  • Your basic property insurance may provide some protection from damaged or stolen equipment. Most of these policies have specific limits on how much coverage is provided for equipment replacement.

  • You may be able to purchase equipment breakdown insurance, a supplemental plan that can help you fund repairs or replacements.

  • You may also need to turn to your insurance carrier for financial support while you cannot operate your company. Business interruption insurance may apply in this case.

Look into policies specific to your needs. Most will offer protection from breakdowns related to your boiler, computer systems, telecommunication systems, refrigeration systems, HVAC systems, pressure vessels and much more.

When a costly problem occurs, turn to your insurance carrier to help you to get the situation fixed and the equipment back up and running, or help you get compensation for the lost income you've had to manage. Business insurance like this can help you to avoid costly downtime that not only hurts your profits today, but also can hurt your customers' view of your company in the long term.

Is your equipment covered? Call La Familia Insurance at (888) 751-7511 for more information on Garland business insurance.

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