Equipment Breakdown Insurance For Renewable Energy Projects

Описание: https://robfreeman.com - Equipment breakdown insurance pays to repair or replace damaged machinery or equipment that has suffered a mechanical or electrical failure. Equipment breakdown - formerly known as “boiler and machinery” insurance - fills a gap in many standard property insurance policies that exclude property losses due to electrical and mechanical breakdown.

For businesses that rely on electrical or mechanical equipment for day to day operation, equipment breakdown insurance can cover not only the cost of the repair, but also the lost income and extra expense it may cost the business if it has to shut down and/or relocate their operations while repairs are made.

All types of businesses are candidates for equipment breakdown insurance, however, great examples are utility scale, commercial and industrial solar and wind farms, electrical power generation facilities, utilities and bitcoin mining facilities, perishable goods manufacturers and distributors, central data processing facilities.

Equipment that may be covered by equipment breakdown includes electrical infrastructure, electrical panels, mechanical equipment, HVAC equipment, renewable energy equipment, computer equipment and even offsite cloud services.

Equipment breakdown claims can include electrical breakdown problems, such as short circuits, electrical surges, overloads or controls failures and other mechanical problems.

Some equipment breakdown policies may offer green upgrade coverage in the event of a loss. A green upgrade goes beyond indemnification to allow an insured to upgrade their equipment with a replacement that is more environmentally friendly, usually meaning more efficient or less hazardous to the surrounding environment.