Covering Strata Machinery and Home Equipment From Breakdowns
Machinery breakdown insurance protects against unforeseen damage (such as a motor failure or electrical shortage) to machinery and equipment owned by a strata company. The insurance covers the cost of repairs or replacement of damaged machinery, such as air conditioners or automatic driveway gates, which are usually key pieces of equipment that keep your strata property functional. Machinery breakdown insurance can also provide temporary replacement equipment for your strata to use while awaiting repairs, subject to the coverage of the policy you choose.
Why Machinery Breakdown Insurance Is Essential for Strata Properties
Getting machinery replaced and repaired is a costly process. Pool and spa motors, air conditioners, lifts, and automatic gates are common types of machinery and equipment located in a strata complex. Without insurance, repairs for these types of machinery may be difficult to finance, which can cause delays and create a hassle if your strata property is dependent on the equipment.
With over 60 years of combined strata insurance experience, our team can help you identify the types of machinery within your strata complex that you might need to cover. We can also provide you with a quote and help you compare machinery breakdown insurance policies for your strata company.
