Oilfield Services Insurance
Equipment Breakdown Insurance
for Oilfield Services
Pump trucks, generators, compressors, and pressure equipment in oilfield service are expensive and critical to completing jobs on time. Equipment breakdown covers sudden mechanical or electrical failure — covering repair costs and any resulting downtime losses.
Industry-Specific Insight
Why Oilfield Services Businesses Need Equipment Breakdown Insurance
Pump trucks, generators, compressors, and pressure equipment in oilfield service are expensive and critical to completing jobs on time. Equipment breakdown covers sudden mechanical or electrical failure — covering repair costs and any resulting downtime losses.
Coverage Details
What Equipment Breakdown Insurance Covers
Key protections included in a equipment breakdown policy for oilfield services operations.
FAQs
Common Questions from Oilfield Services Businesses
Does equipment breakdown cover a blowout preventer?
A BOP and specialized well control equipment typically require specialized oilfield equipment policies beyond standard equipment breakdown coverage. Discuss your specific equipment needs with your agent.
Can equipment breakdown cover a high-pressure pump failure on location?
Yes. Sudden and accidental mechanical failure of high-pressure pumping equipment is covered under equipment breakdown policies.
Isn't equipment breakdown covered by commercial property?
Standard commercial property policies cover damage from external causes — fire, storm, theft. They typically exclude mechanical or electrical breakdown from internal failure. Equipment breakdown coverage specifically addresses that internal failure scenario.
Does this cover normal wear and tear?
No — equipment breakdown covers sudden and accidental failure, not gradual deterioration or wear and tear. Routine maintenance issues and end-of-life breakdowns are generally excluded.
Complete Coverage
Other Coverages Oilfield Services Businesses Commonly Need
A complete protection plan for oilfield services operations typically includes several complementary coverages.
Oilfield Services · Equipment Breakdown
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