Breakdown

Breakdown

Cover for your machinery anywhere in New Zealand including motors, pumps, electrical equipment, computers, mechanical equipment, and pressure vessels that you use for your farming operations.   

What we cover

The FMG Breakdown policy automatically includes these covers and benefits. 

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.

We’ll pay up to $2,000 for the cost of raising your submersible pump or motor for repairs following a breakdown and lowering it again when they’re done. You can choose to insure this for a higher amount. 

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.

If you need to replace any refrigerant following a breakdown we’ll pay up to $1,000.  

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. 

 

What we pay

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. 

 

Download policy

Please note this is only a summary of the product and is subject to our specific product documentation. For full details please download the policy wordings using the links below, or you can get a free copy by calling us on 0800 366 466.