A lot of machines that work in the background keep a building operational. For one, the boiler plays a crucial role in maintaining overall comfort inside a building, whether it’s an apartment or an office space. The boiler heats water and ensures tenants access to warm water, central heating, cooking, sanitation, and a lot more day-to-day functions. But what happens when the boiler breaks down?
Just like any building appliance, boilers require regular maintenance, fast repairs, and periodic replacement to ensure their optimal function. When these needs aren’t properly addressed or met in time, commercial property managers face growing liabilities as this machinery breaks down and damages other operations.
These are often seen in natural events, such as lightning strikes that strike HVAC equipment housed on the roof, or a pressure valve explosion in the boiler room. When these happen, you need reliable boiler insurance to recover from the damage and restore normal building operations.
This comprehensive property damage protection plan covers the cost of damage to boiler equipment or machinery resulting from accidents, such as a breakdown or explosion. This coverage extends to equipment related to boiler machinery, such as rooftop HVAC equipment, manufacturing equipment, and pressure vessels.
Boiler and Machinery Insurance also includes accident investigation to review accident causes and help you resume regular operations with ongoing risk management. Combined with Business Interruption coverage, your equipment can be covered for necessary repairs and replacement, along with lost income due to business interruptions and additional expenses incurred as a result of the damage.
Aside from HVAC systems and other building equipment, Boiler and Machinery Insurance can also be tailored to cover other property damaged as a result of boiler accidents and breakdowns.
This ensures full coverage for a mechanical or electrical breakdown of other appliances and machinery that building management may be held responsible for. With extended boiler and machinery coverage, you can cover the full cost of restoring building operations and tenant satisfaction.
Proactive risk management is key to preventing boiler breakdowns and accidents — and for business, avoiding disruptions to regular operations and loss of income. Risk management also keeps your insurance rates steady, which ensures affordable equipment protection and operational expenses.
Archway Insurance is committed to building safety and the full functionality of some of the busiest buildings in Nova Scotia and New Brunswick. Our insurance brokers work with various property owners across Atlantic Canada to identify risks in their boiler and machinery equipment and present tailored coverage options from major Canadian insurance providers. Our goal is to equip you with the necessary financial protection to recover from the financial impact or major equipment breakdown so that you can resume normal building operations in no time.
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