Machinery Breakdown Insurance
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What is Machinery Breakdown Insurance?
Machinery Breakdown insurance covers the cost to repair or replace specified machinery following a breakdown.
‘Breakdown’ refers to unforeseen and sudden physical damage to specified machinery which requires repair or replacement.
What does Machinery Breakdown insurance cover?
Unexpected breakdown of machinery
Unexpected damage to machinery
Cost of repair
Cost of replacement
- Wear, tear or gradual deterioration
- Normal maintenance
- Replacement of expendable parts
- Theft
Why might you need Machinery Breakdown insurance?
You may need Machinery Breakdown if you rely on certain equipment to run your business.
Remain operational in case of a breakdown
Lease a workshop
Industry compliance as applicable
Let’s cover your small business on the go
Start a quote to see how much you can save and buy online in minutes.
Top industries who purchase Machinery Breakdown insurance most:
Machinery Breakdown is suited to a wide range of industries and occupations in addition to the ones listed above.
How much does Machinery Breakdown insurance cost?
Machinery Breakdown insurance costs can vary based on your business’ size, risks, industry and other factors. Every business is unique, and so is the type and cost of its policy.
How is the cost of insurance calculated?
Risks of the industry
Cover level amount
Annual turnover
Number of employees
Claims history
Get cover that works with the risks of your business
You can select from different levels of cover to suit your needs.
This is the most you will be paid out if you need to make a claim. Choosing different cover levels may impact the cost of your policy.
Unsure how much to choose? Think about:
Statutory professional requirements
Cover required by contracts
Number of employees being covered
Your contract value
Worst case scenario claim size
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
How is the cost of insurance calculated?
Risks of the industry
Cover level amount
Annual turnover
Number of employees
Claims history
Get cover that works with the risks of your business
You can select different levels of cover.
This is the most you will be paid out if you need to make a claim. Choosing different cover levels may impact the cost of your policy.
Flexible Cover
Pick from 6 levels of Public Liability cover
Unsure how much to choose? Think about:
Statutory professional requirements
Cover required by contracts
Number of employees being covered
Your contract value
Worst case scenario claim size
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
How it works – buying online
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5 Steps to get your biz insured:
- Enter Occupation
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- Choose Cover(s)
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- Business Details
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How to make a claim online
We’ll assist you through the claims process & manage the claim directly with the insurer.
Let us know Fill out our
claims form and provide info
to support the claim
Receive extra support We
will assist you with your claim
Claim results We will notify
you of the claim outcome.
3 Steps to get your biz insured:
- Let us know
Fill out our claims form and provide info to support the claim.
- Receive Extra Support
We’ll assist you with your claim.
- Claims Results
We’ll notify you of the claim outcome.
See how much others have saved while purchasing policy through BizCover
Colette
Disability Care Worker from
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$1,200
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Andrea
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$1,500
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Deborah
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$3,600
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$800
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Stephen
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$1,500
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Linda
Restaurant owner from
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$1,000
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^ Savings made from January 2024 to April 2025. This information is provided as a guide only and may not reflect pricing for your particular business, as individual underwriting criteria will apply.
Frequently asked questions
There are many types of businesses that rely on key equipment to remain operational and profitable, from mining companies to bakeries. If your business is reliant on specific machinery to operate, then you may wish to consider Machinery Breakdown insurance.
Machinery Breakdown insurance covers insured equipment if it unexpectedly breaks down or is damaged, but does not cover burglary. If you are concerned that your machinery could be stolen, then you may wish to purchase Theft insurance.
Portable Equipment insurance covers you for loss and damage to items of portable equipment associated with your business. These can include tools of trade and items of stock. Machinery Breakdown insurance covers items including refrigerators, air conditioners, and other types of industrial machinery that are not portable.
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