Equipment breakdown insurance

Term · Insurance and risk management · MLC-T-INS-001337

Coverage for loss due to mechanical or electrical breakdown of nearly any type of equipment, including boilers and pressure vessels. The policy covers the direct physical damage to the equipment, spoilage of perishable goods, and income lost due to the breakdown. This insurance fills a coverage gap, as standard commercial property policies exclude losses from events like power surges, motor burnout, or mechanical failure.

Table 1. Record
Identifier	MLC-T-INS-001337
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-001337",
  "term": "Equipment breakdown insurance",
  "field": "Insurance and risk management",
  "definition": "Coverage for loss due to mechanical or electrical breakdown of nearly any type of equipment, including boilers and pressure vessels. The policy covers the direct physical damage to the equipment, spoilage of perishable goods, and income lost due to the breakdown. This insurance fills a coverage gap, as standard commercial property policies exclude losses from events like power surges, motor burnout, or mechanical failure.",
  "url": "https://mlchart.com/terminology/insurance/equipment-breakdown-insurance/"
}

Record 1,196 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.