Shield Profits Equipment Breakdown Insurance Manufacturers Need

Real-World Data and Examples

The financial impact of equipment breakdowns can be substantial. According to a study by FM Global, equipment failures account for nearly 28% of all property damage losses in the manufacturing sector¹. Another report from Hartford Steam Boiler found that the average cost of a single equipment breakdown incident is approximately $18,000². These statistics highlight the critical need for manufacturers to have adequate insurance coverage to mitigate these risks.