What is boiler machinery insurance?

Boiler Machinery Insurance, also known as Equipment Breakdown Insurance, is a specialized policy that covers the sudden and accidental breakdown of boilers, machinery, and other types of equipment. This type of insurance is designed to protect businesses from costly repairs or replacements due to mechanical failure, electrical short circuits, or operator error. It typically covers the equipment itself, as well as resulting property damage and business interruption losses. Boiler Machinery Insurance is essential for businesses that rely heavily on mechanical or electrical equipment, as it helps minimize financial loss and downtime in the event of equipment failure.