Cover for your machinery anywhere in New Zealand including motors, pumps, electrical equipment and mechanical equipment that you use for your farming operations.
These are some of the covers and benefits automatically included in the FMG Breakdown policy.
Cover for accidental breakdown, which means sudden, unintended and unforeseen loss, and involves the breaking, deformation or seizure of your machinery, pressure vessel or electronic or electrical failure of equipment.
Cover for reasonable additional costs for overtime, work on a public holiday, or express freight charges within New Zealand that result from a machinery breakdown. These costs are included in your sum insured limit.
Cover for up to $2,000 if a part needs to be airfreighted from overseas. This benefit only applies to machinery you’ve individually specified on your policy; you can also choose to increase this amount.
Cover for reasonable labour and hire charges up to $2,000 if you need to install loan equipment to keep you going after a breakdown.
We’ll pay the cost to repair machinery over 5 years old, or the present day value, whichever is less. Present day value is the value just before the loss and takes into account age and condition, think of it as similar to a second hand value.
Machinery under 5 years old is covered for replacement value. This means we’ll either repair it to the same condition it was in when it was new, or if it can’t be repaired we’ll pay to replace it with the nearest equivalent available.
If you need to replace any refrigerant following a breakdown we’ll pay up to $1,000.
Specified pressure vessels are covered for replacement value. This means we’ll either repair it to the same condition it was in when it was new, or if it can’t be repaired we’ll pay to replace it with the nearest equivalent available. Payment is limited to the sum insured for the pressure vessel.