What is equipment breakdown insurance policy and coverage?

Farmers, construction companies, and all those that make use of equipment in their work need equipment breakdown insurance to ensure that their work does not suffer undue interruption and delay due to equipment breakdown.

Equipment breakdown insurance does not cover heavy-duty equipment and industry machines alone. It makes provision for a mechanical or electrical breakdown of all equipment such as computers and photocopiers.

In the event of loss or damage to the equipment or loss, the insurance company compensates the owners financially for the expenses made for repairs and replacement of the insured equipment.