Protecting you financially against loss of production
Lombard takes a keen interest not only in funding your business, but protecting it too.
As everyone knows, the success of any investment in machinery or equipment is dependent on its reliability. This is why it is important for every business to consider how it would manage in the event of a key piece of machinery breaking down.
In our experience we find that you can not always rely on manufacturers' warranties or general fire and theft policies to cover all risks. For example, manufacturers warranties may exclude damage due to operator error or a power surge, and fire and theft policies may exclude mechanical breakdown or electrical failure.
Lombard's Asset Protection is one product available which can cover all these incidents and more, so your business is better protected against the costs of unforeseen events.
Asset Protection will pay out the cost of repairs (including parts, labour and transit) throughout the period of cover, no matter how many claims you make.
It will also contribute to the cost of hiring alternative equipment in the event that your assets cannot be repaired within 14 days. If, rather than hiring equipment, you compensate for the breakdown by other means for example outsourcing or overtime, these costs can also be met or contributed to.
You may wish to use your own choice of repairers enabling you to take the quickest repair route possible.
The policy will also pay your monthly finance payments to Lombard while the machine is out of operation for up to 6 months, taking as much pain out of the incident as possible.
The cover is available for new and used assets and provides accidental damage and breakdown cover at a fixed premium for up to 7 years.
Our customers tell us that in the event of the breakdown of equipment the most important consideration is how quickly it can be repaired and how the cost will be met. The quicker it can be repaired, the less production time is lost and resulting costs reduced. The Lombard Key Asset policy is specifically designed to meet these customer needs.
We offer Asset Protector for general machinery and equipment and bespoke solutions for computer and electronic equipment.
Regardless of whatÕs happening in the economy there is never a good time to be outlaying hard earned capital for repairs to broken down machinery.
The description of the products we have provided here are subject to the terms and conditions of the individual policies. If you would like further details on our Asset Protection insurance products please contact your local Lombard Business Centre who will be delighted to provide full details.
Key Asset has proven to be of benefit to a number of our customers and our Insurance Sales Manager, Derek Moyes, has a number of recent claims, which demonstrates the range of equipment it can cover.
