Equipment Breakdown

Equipment Breakdown Insurance

Our Equipment Breakdown Insurance provides coverage for the repair or replacement costs for broken-down equipment at the insured's location. With broad policy coverage and higher liability limits, we can also cover business interruption and spoilage losses. Setting up and managing Vero Equipment Breakdown Insurance is hassle-free, supported by our dedicated team of underwriters and risk engineers. Under our Vero Specialty Lines offering, this product is backed by the reassurance of Vero’s large-scale operations and award-winning claims service.

Equipment Breakdown insurance can offer:

Expertise, capability, and underwriting service: Our skilled underwriting, claims and risk engineering teams provide nimble service and tailored solutions.
Enhanced coverage: Our policy prioritises new-for-old coverage under specific circumstances, ensuring your clients get back to business as soon as possible with new equipment following a breakdown. Plus, we’ve enhanced our equipment upgrade provision towards upgrading equipment following an insured event.
Comprehensive protection: Our policies cover a wide range of exposures that are often excluded by warranties, maintenance agreements, or standard property policies, providing broader protection for your clients’ equipment and business.
Exceptional claims service: Our experienced Equipment Breakdown claims team supports you through the claims process. With enhanced policy coverage and award-winning claims management, our approach is designed to deliver fast and efficient settlements, utilising one-touch claims processes wherever possible.
Comprehensive risk management: Our dedicated Risk Engineering team delivers insights and recommendations to assist with continuous improvement of your client’s equipment. Brokers receive access to a suite of risk management resources including insightful loss prevention articles.
Broker training: We provide extensive training for brokers, enhanced by detailed educational materials and resources.
Long-term partnership: Vero’s proven long-term stability in capacity, appetite, and rates, combined with our underwriters working directly with you to develop the opportunities within your existing client base, enables you to engage with us confidently, ensuring there will be no surprises along the way.
Online quote tool: Access to Vero’s user-friendly online quote tool enables you to bind coverage and download necessary documentation in real time, streamlining your insurance processes for maximum convenience.

Appetite Guide

Why Choose Equipment Breakdown Insurance

Dedicated Underwriting Team

Risk Management Solutions

Award Winning Claims Service

Benefits of Equipment Breakdown Insurance

Why Equipment Breakdown Insurance is essential

Now more than ever, businesses of all sizes increasingly rely on business equipment to generate revenue. With advancements in technology and the increasing complexity of equipment, their exposure grows ever larger. Watch this short presentation that outlines the potential risks for businesses lacking sufficient cover for Equipment Breakdown.

Equipment Breakdown cover helping Signature Orthopaedic stay in business

Many businesses depend on their daily-use equipment, whether production machinery or electrical switchboards. This brief video examines the way Vero Equipment Breakdown Insurance, as recommended by the broker, helped the business to recover from a nine-month operational shutdown due to a power surge.

Equipment breakdown useful documents

Get real life insights and claims scenarios with Vero’s Loss Bulletins.

Today's businesses rely heavily on the continuous operation of their machinery and equipment. We are continuously developing new sets of Loss Bulletins to assist businesses in recognising these risks.

View Loss Bulletins

Policy documents

Learn more about Vero Specialty Lines Equipment Breakdown Insurance.

View the policy documents

Frequently Asked Questions

How much does Equipment Breakdown insurance cost?

There is no one-price-fits-all answer as Vero Equipment Breakdown Insurance policies are tailored by trusted brokers to meet the unique needs of each business. However, some of the factors that can influence the cost of insuring business equipment include (but not limited to):

the nature of your business
the quality and condition of equipment to be insured
the annual income of the business
any applicable excesses
optional coverage selected,
claims history

Can I claim for faulty equipment on insurance?

If your business’ machinery has malfunctioned or broken down and caused loss or damage to your business, you may be able to make a claim through Vero. Please contact your broker to discuss your options.