Machinery damage and breakdown insurance

Why do you need machinery insurance

Extended machinery warranties don’t normally provide cover for breakdown or accidental damage caused whilst in operation. Developed in conjunction with a leading insurer, the MACH 3-5-7 insurance policy is designed for operators of industrial and commercial machinery. It helps you plan for unforeseen mechanical breakdowns and production interruptions.

  • Flexible cover and fixed premiums
    You can choose up to seven years’ flexible cover. And, once you’ve chosen the length of your policy, regardless of the number of losses reported, the premium is guaranteed never to rise throughout the lifetime of the policy.*

  • Your choice of repairer
    You can choose the quickest and most convenient repairer for you and your machinery, subject to policy limits. This could mean the cost of downtime is kept to a minimum and that you’re in complete control of the repairs. You can even make a repair using your own qualified in-house engineers.

*Excluding insurance premium tax increases.

Protection where a warranty may fail

While it’s true that you’re more vulnerable to breakdown losses after your warranty expires, your insurance premium will be significantly reduced if you take out a MACH 3-5-7 policy when you purchase a machine. Remember with MACH 3-5-7 you choose the length of the policy, effectively allowing you to benefit from year one prices for up to seven years!

Significant exclusions

  1. Loss due to wear and tear,
  2. Loss caused or consisting of fire, lightning, aircraft or explosion.

A copy of the full policy wording is available on request.

Machinery claims

Source – internal database managed by Marsh Commercial, showing the distribution of claims made between 01/01/2016 to 31/12/2020 on new machines with at least 9 month’s warranty remaining at the policy start date. Data accurate as at 24/02/2021.

Here when you need claims support

Expect something of real value.

Access to expert claims consultants – If you have a loss, there is specialist support on hand for your business at a critical time.

Real help with machinery insurance for the long haul

The MACH 3-5-7 product gives you the following benefits:

  • We can protect almost any new or used fixed and installed machine under 10 years old, with the exception of food processing, pre-press and digital Print machinery or machinery used in recycling, reclamation or disposal of waste.

  • Allows you to secure protection for your machinery longer than conventional insurance policies or repair contracts.
  • It’s also worth noting that there are certain claims supplier’s warranties don’t usually cover, in particular damage or operator error claims; which is where our machinery breakdown insurance has you covered.

Frequently asked questions

If I already have general insurance do I need machinery breakdown insurance as well?
The MACH 3-5-7 product is designed to run alongside your general insurance and not as a replacement. It’s worth checking if your existing insurance includes machinery breakdown cover, if it does and you make a claim it is likely your renewal premium will increase. The MACH 3-5-7 product will provide cover for up to 7 years, the premium will not increase during the agreed term regardless of claims experience.
What if I have a manufacturer's warranty?
The cover provided by a manufacturer’s standard warranty is usually limited to manufacturing defect for a period of 12 months whereas the MACH 3-5-7 product provides far wider cover including operator error for a period of up to 7 years.