Extent of Cover

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● Breakdown - sudden and unforeseen breaking, distortion, overheating or electrical burnout of any part resulting in its immediate stoppage of function before normal working can be resumed.

● Accidental Damage - loss or damage caused by accidental or malicious external causes including damage caused by operator error, during normal operation of the insured machinery.

● Theft - where accompanied by forcible and violent entry to or exit from the customer's premises

● Robbery - loss or damage caused by theft or attempted theft involving the use of force or the threat of force against any person authorised by the insured customer to be in possession of the insured equipment.

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Benefits

● Full cost of repairs (less policy excess & value of salvage) for partial losses throughout the entire period of cover.
● In the event of total loss,- the new replacement value of the item at the time of the occurrence, except where the market value declared at inception was less than 60% of the new replacement value, in which case the settlement will be the market value of the machinery at the time of the occurrence.
● Finance Repayment Protection – Periodic finance repayments payable for a maximum period of 6 months whilst machinery is inoperable (including any breakdowns within the warranty period) but excluding the first 14 days.
● Expediting costs - expenses reasonably incurred in making temporary repairs and expediting permanent repairs up to the lesser of 50% of the claim or £12,500
● Hire of alternative equipment after 48 hours following the incident of loss or damage up to £25,000, OR the additional cost of working after 7 days for up to 6 months, up to £5,000
● Cover for a fixed term - regardless of the finance period.
● Fixed Monthly payments - guaranteed for the term of the insurance irrespective of claims experience.

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Principle Exclusions

● The policy Excess.
● Consequential loss.
● Equipment / Machinery used for hire or whilst loaned out.
● Theft or attempted theft unless accompanied by forcible and violent entry to or exit from the customer’s premises.
● Loss or damage caused by Fire, Lightning, Aircraft or Explosion, Flood or Inundation from the sea.
● Loss or damage which is the responsibility of the manufacturer’s warranty, guarantee or maintenance agreement.
● Loss due to wear and tear, gradual deterioration, rusting, corrosion or oxidisation or scratching to painted or polished surfaces, intentional overloading, experimentation,
testing or commissioning.
● Losses reported to the insurers more than 30 days from the date of the occurrence.
● Loss or Damage caused by Breakdown in the first 30 days of cover unless the Equipment / Machinery is the subject of a manufacturer's warranty or the Insured Customer has owned it for at least 30 days prior to cover commencing and has declared any claims, losses or incidents to the Insurer.

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Please contact us for a quotation.

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Business Asset Warranties Limited is an Appointed Representative of Marsh Ltd which is authorised and regulated by the Financial Conduct  Authority (FCA) for General Insurance under Firm Registration Number 307511. Not all products and services are regulated by the FCA.