Asset Protection can cover the costs of mechanical breakdown
Operator error can be costly and is typically not covered under many general insurance policies. One simple case reflects this when an operative keyed a minus instead of a plus on the control panel of a CNC machine, resulting in the drill coming down and striking the plate on the machine. Key Asset covered the claim for just under £2,250. These claims usually happen when either a company buys a new unfamiliar model or it recruits or moves operatives to new machines.
Breakdown accounts for the vast majority of Key Asset claims. In any business breakdowns happen. Customers want an efficient and effective resolution to their claims and that's what Key Asset addresses. A couple of examples of this spring to mind where a Heidelberg print machine stopped abruptly in the middle of a production run. The engineer was called and identified the breakdown fault in the printed circuit board and replaced it immediately. The claim settled at just over £4,600.
A company operating within the food industry sector had a breakdown failure of a valve in a refrigeration unit causing loss of refrigeration gas. The resultant claim paid £2,335.
Customers need repairs fast. They don't want to wait on a lengthy claims process and with Key Asset they can call their own engineers.
Like break downs, accidents happen and you never know when and what the cost of repair will be. A Lombard customer had the main head clip the side of the machine table resulting in major damage and a claim being paid for £6,300.
