NIG is to include equipment breakdown cover for no additional premium on a further three of its package products.
The products are: Property Owners, Hotel and Licensed Trade products. They will join the existing line up of Motor Trade, Retailer and Office.
NIG said it was one of the first insurers to introduce equipment breakdown cover as standard to provide businesses with breakdown cover for their equipment, including loss of income.
Steve Kingshott, NIG director of underwriting and pricing, said: “The cost to businesses of equipment such as a cooling system breaking down can be significant, and often runs into thousands of pounds.
"Equipment breakdown can cause severe disruption especially where these incidences recur frequently. Interruption to business is not just about loss of revenue; it's also about reputation and losing business to competitors."
He continued, “Most maintenance contracts do not cover motor burnouts, short circuited electrical systems, mechanical failures or income lost as a result of the breakdown; these events are even less likely to be covered by most standard package insurance policies. So it makes sense for policyholders to take a ‘one stop' approach to insurance cover for their business.”
