Machinery And Equipment Insurance: What You Need To Know

Business owners need to protect their investment, which includes any machinery they use. This is why it’s wise to buy equipment insurance. You might have questions about machinery and equipment insurance. Read on to learn more about what equipment insurance is, machinery it covers, what a policy covers and other useful information.


What Is Equipment Insurance

It is insurance that covers equipment that a business owns and uses in their operations. Machinery and equipment insurance is often referred to M&E insurance or M&E coverage. It is also called breakdown coverage.

Businesses of all kinds can purchase machinery and equipment insurance. This includes everything from nursing homes to restaurants, retail shops, service-based businesses and many others. It doesn’t matter what type of business you run, the chances are you can benefit from having M&E coverage.



This type of insurance is similar to other forms of insurance when it comes to policies. The type of policy businesses can get depend on several factors such as the nature of their business, what they want to cover and who they decide to buy their policy from. Generally speaking, there are standard policies and there are more extensive policies that cover more stuff than standard coverage.


Types Of Machinery That Can Be Covered

Various types of machinery and equipment can be covered under M&E. This includes emergency generators, refrigerators and refrigerator units, boilers, air conditioning units, and heavy duty equipment used by businesses such as warehouses, factories and so forth. What can be covered depends on the type of policy the business owner purchases.


How Does Equipment Insurance Work

The way it works is simple, as M&E reimburses you for what you spend on replacing or repairing equipment that is covered under your policy. If the equipment was damaged or malfunctioned due to an accident, then it might be covered. If equipment breakdown through no fault of your own, then you might be able to claim it on your insurance. However, accidents are not considered to losses or deterioration as a result of normal use because this is expected to happen as time goes by.



Like other types of insurance, there is typically a deductible. Before you can claim on your machinery and equipment insurance, you might have to pay the deductible. If your policy isn’t paid in full at the time you purchase it, then you’ll make payments until it is paid in full. How much your deductible is and how much coverage you’ll have depends on who you do business with and the type of policy you purchase.


Tips For Choosing Equipment Insurance

  1. First, choose a reputable insurance provider. Not all providers are created equal, so find one that has a good reputation. You don’t want to buy coverage from a company that is known for giving people issues when they try to file a claim on their machinery and equipment insurance policy.
  2. Second, decide what equipment you want to have covered. This will play a major role in how much coverage you should purchase and how much your policy will cost. Think about the equipment that is of the utmost importance to your business and how often you use the equipment. You’ll want to make sure your policy will cover that equipment.
  3. Finally, read the terms and conditions carefully before you make your choice. You want to find out what exactly is covered, how much your deductible will be and know exactly what you’re in for. Nobody wants to be left shocked when they try to file a claim, which is why it’s important to read the terms of the policy you’re thinking of getting.

Here’s a bonus tip, choose a provider that is known for their customer service. You don’t want to be waiting for long periods of time to hear back from them. This is especially true when you’re trying to file a claim.


Benefits Of Equipment Insurance

When it comes to M&E insurance, there are several benefits. This is regardless of the type of business you run. The key benefits are:

  • Equipment Covered- One of the best things about machinery and equipment insurance is the types of equipment that can be covered. This includes mechanical equipment such as elevators, motors and manufacturing equipment to name a few. Electrical equipment, computers and communications equipment might be covered too. Other types of equipment include AC units, refrigeration systems and boilers to name a few.
  • Save Money- Another major benefit of equipment insurance is potentially saving money over time. If a piece of equipment fails due to an accident and it isn’t covered by a warranty, then this means you’ll be responsible for repairs or replacing it. This can be very expensive, but you could save money by purchasing machinery and equipment insurance. For example, coverage might include replacements and/or repairs, and you’ll only be responsible for the deductible, which often works out to be far cheaper than paying for a new machine in full or to have it repaired.
  • .Peace Of Mind- Above all else, you receive peace of mind when you have adequate insurance for your machinery and equipment. It doesn’t matter the business, the chances are machinery and/or equipment is used on a day-to-day basis. The last thing you want is for essential equipment to fail, as this can disrupt your entire operations. An extensive policy means minimum disruptions in the event something goes wrong with your equipment.

Those are only a handful of the many potential benefits of machinery and equipment insurance. However, the best thing about the insurance is you won’t have to spend out lots of cash to have your equipment fixed or replaced. Best of all, your insurance provider will handle the majority of legwork involved. All you need to do is follow the instructions for filing a claim, and they will take care of the rest.

The bottom line is businesses that own machinery should look into equipment insurance. When it comes to machinery and equipment insurance, it’s important to keep the previously discussed tips in mind. That is how business owners will find the right insurance policy for their equipment.


Choosing a place of employment where you will feel comfortable and fulfilled is no easy task because everyone’s needs are very different. But if you enjoy seeing the progress of your efforts, the rewards of hard work, and fair payment for your valuable time, there is an opportunity for everyone in the construction industry.

For some inexplicable reason, the construction industry is often relegated to last place when career plans are being made. This could be due to the many misconceptions or misrepresentations about the exciting construction industry.

If you are interested in a challenging and exciting industry with something for everyone, let’s take a closer look at some things you may not have known about the construction industry.


One of the most desirable qualities in a rewarding career is the opportunity to grow and apply your accumulated skills in greater capacities. According to the numbers, as much as 87% of millennials believe that professional growth and career advancement are essential requisites in their career choices.

The good news is that the construction industry is exactly this type of career. Professionals of all types are given the opportunity to advance their careers in any way they wish. For example, journeyman carpenters can become carpenter foreman within a matter of years. After this many more positions of prestige and greater responsibility are made available.

Any professional with a desire to perfect their craft and increase the excellence of their services are sure to make great advancements through the echelons of this merit-based industry.


Most people mistakenly assume that the construction industry is dominated by men, probably because construction yards are, for the most part, filled with men. But the construction industry is a skill-focused career and provides equal opportunities to all who wish to invest their time and talents.

Women joining the construction industry will enjoy one of the narrowest pay gaps in any industry and one characterized by great respect for personal capacity above all else. Furthermore, you needn’t assume that you have to bench press 80kg to work in a construction yard. Modern technology and machinery allow for maximum work with minimal human effort. It is more important to have the skills, knowledge, and practice.


This is a completely false notion, but understandable seeing as the construction industry allows unskilled workers to begin getting paid fairly early in their training. To become a fully accredited construction professional, it is necessary to complete eight to twelve years of training.

This may seem like a considerably long time to undergo training, but the good news is that much of the training can be accumulated as part of an apprentice program allowing you to collect a paycheck as you advance.


The precision operations that are set in motion to create a well-built edifice may seem to value strict adherence to procedure and planned execution, and they do. But this is only one aspect of the entire construction industry. In other sectors, there are plenty of opportunities for the mathematically inclined and the artists alike.

Architects with creativity are in short supply and greatly needed to provide out-of-the-box solutions to the challenges posed by their projects. Furthermore, the importance of an aesthetically pleasing production should never be underestimated.


The construction industry has its share of accidents for sure, and great care and attention are needed to avoid injury. But the same could be said about driving a car or crossing a road. Furthermore, with the advances made in safety equipment, harnesses, gloves, safety helmets, and safety precautions in general the construction industry has also become considerably safer.


If it seems construction jobs aren’t too numerous in your area, don’t assume they don’t exist. The construction industry is set to lose as much as half of its workforce by 2030 and this means that they are looking for new professionals to begin practicing and applying their skills and efforts in this field. There has never been a better time to get on board with this exciting industry that has opportunities for all.

How to Choose the Right Construction Machine for Your Project?

When it comes to getting your construction project completed safely in the proper time with as little expenditure as possible, the right machinery makes all the difference. But choosing the right machinery for your specific operations can take some skill and experience.


To shed some light on this important aspect of construction projects, we would like to pass along some of the extensive experience we have on the subject. But before we get into the details of how to properly choose your construction equipment, let’s take a closer look at the five different categories of machinery in the family of construction equipment.


The Five Categories of Construction Equipment


It takes all types of construction equipment to transform an undeveloped lot into a practical commercial, industrial or residential location. Construction equipment can be categorized into five distinct types of machinery grouped by their purpose, as follow:


  • Earth Moving
  • Concrete (mixing, pouring, pumping, etc)
  • Material Handling
  • Material processing
  • Road Construction

Now that we can clearly see the difference between these various machines, it will be time to consider which is the best for your situation and needs.


Finding the right construction machine

Human innovation has gone a long way in making difficult jobs easier, but it will be up to your caution and footwork to take full advantage of the mechanical opportunities afforded you. Here is how to choose the right construction equipment for the job.


1. Due Diligence


A good piece of construction machinery will represent a considerable investment and the perfect tool for your operations will probably cost a little more than that. The takeaway: this is an investment for the long haul and you must consider the value of the item and the reputation of the manufacturer.


With the right acquisition, you could even recoup some of that investment on resale. But that only comes from finding a quality product that is perfectly suited to your operations. This way wear and tear will be minimal and the investment preserved.


2. Type of Job


When choosing construction machinery, but especially when choosing those items that will serve a variety of purposes, take a moment to draw up a full job description. Will you need something to demolish structures, clear ground, move heavy objects, break asphalt, lay pipes, pave roads, landscape, or all of the above? Backhoes loaders are especially versatile pieces of construction equipment. Even here, backhoe loaders come in a great variety of makes and models, so choose carefully.


3. Size of the Project


Now that you know the types of jobs that will be covered by the piece of construction machinery. It is time to begin thinking about the capacity. As you can probably imagine, heavy-duty labor intensive operations will require something especially suited to that line of work, the same as lighter projects need lighter equipment.


4. Identify the job conditions

What sort of terrain and environment will your equipment be facing? If there is no road access, some pieces of equipment may have a hard time getting to the construction site. Uneven terrain can also make certain machines ineffective. You should even consider the climate and weather conditions you can expect. Certain types of equipment may be better suited to working in the rain and mud than others.


5. Size and Weight


Now that you have a clearer idea of the work, capacity, environment and type of equipment you will need, it is time to consider the size and weight of your machinery. As you can imagine larger machinery will be able to pull larger workloads easily, but they will be very expensive if used at half-capacity. It would be cheaper to have smaller machinery working full tilt. Other important considerations will be the needs for spare parts, storage space for spare parts and additional equipment. But larger equipment is sturdier and this does provide an advantage in all kinds of working environments. As you can see, there will be many finer points to consider here.


6. Cost of operation


By this point, you will be getting a clearer idea of the type of equipment you will need in your work, but the finer points will help you save big in the long run. Time to determine the costs of operating your construction equipment. Make sure you factor in the costs of transportation, insurance, commissioning, and anything else that may be specific to the equipment in question.


7. Consider the price


Now you can compare the price tags for your equipment. You will have to consider how much you have for this project before you even go into the market. But now you can choose which option suits your financial plan best.


8. Spare parts


As mentioned, this could be a long-term investment. Make sure you have chosen a make, model, and manufacturer that supplies support and spare pieces if the machinery should be needed. Also, take a look into the maintenance plans for this specific item. This will keep your machine running well for the longest time, and bring the possibility of a higher resale value.


9. Consider equipment versatility


Take a moment to consider the versatility of your machines. If you will be buying more than one item, you should consider which items can perform more than one task. Perhaps a different selection of tools will allow some machinery to be redundant. This could save you a small fortune, but make sure you consider your needs carefully. Better to have it and not need it than the alternative.