Business Owner's Desk
Plain-language insurance guidance
Practical answer
Should I report new machinery?
Yes—before installation where possible.
The short answer
New machinery can change asset values, processes, power demand, fire load, breakdown exposure, production dependency, and business-interruption risk. It may also introduce transit, erection, testing, and commissioning exposures.
What to do now
- 01Send make, model, value, location, function, installation, and testing details before delivery.
- 02Check marine transit, off-site storage, erection, testing, property, breakdown, and BI cover.
- 03Update the asset schedule, replacement value, critical-spares plan, and maintenance contract.
- 04Obtain written confirmation of attachment and any survey or protection requirements.