Unfortunately, commercial all risks policies don't necessarily cover 'all risks' Exclusions in cover can lead to businesses paying out thousands to repair their machinery, while also facing loss of profits following interruption to their operations. Fortunately, we've got a cost effective answer to all that.

We appreciate today's scene

We know that the economic climate is tough, profit margins are thin and machines need to work at full capacity for long periods for firms to remain competitive. These factors put tremendous strain on machinery and can lead to damage and an unexpected repair bill that most companies can ill afford and are unable to carefully plan for.

Our Solution

Most firms would prefer to budget for repairs with a set price in their annual accounts. That's where our Engineering Machinery Damage and Business Interuption Policy comes in. It provides valuable, additional cover on machinery for losses that occur more frequently than a fire, flood or storm claim.

What exactly is covered?

Usually, we cover sudden and unforeseen damage on a new-for-old basis.This comprehensive solution protects businesses against breakdown, collapse and explosion (which is damage by internal steam or fluid pressure), as well as accidental damage caused by a whole range of things- from defective materials to faulty repairs; operator error or vermin.

Adding on this cover is straightforward

We no longer need details on each piece of your machinery. We just need the machinery sum insured on your commercial all risks policy. What's more we can issue this cover on an individual stand-alone basis to complement your existing insurer's policy, or it can be added as a new section of a Norwich Union Commercial Combined Policy.

Author : Michael Lees (Norwich Union)