Machine Tools and Industrial Machinery - Damage and Breakdown Extended Warranty

Introduction

The sudden and unexpected cost of damage caused by operator error or from the breakdown of industrial machinery is often an additional expense PLCs and SMEs can ill afford.

To protect firms against the unexpected claim, CNC Asset Management manage and promote a Machinery Warranty for all forms of static industrial machinery such as machine tools, hydraulic motors and industrial machinery. In addition, coverage for equipment such as materials handling equipment can be provided.

Machine Tools up to 20 years old can be covered for a total of 60 months. Pricing on used will depend on the current market value, the manufacturer, the age of the machine and in some circumstances the usage.

The maximum age at which the CNC Asset Management warranty may attach to any machinery which is not machine tools is generally less than 10 years old. If you have a machine older than that, try us.

Because we want you to be absolutely comfortable with the warranty you are buying and because transparency is a CNC Asset Management business policy, the full terms and conditions can be seen here.

The Extended Warranty Product Details

You will receive the same benefits whether the machine is new or old.

Benefits and exclusions for machinery protected

Damage caused by operator error

If your machinery breaks due to the operator's error, the warranty will pay for the work to repair the machine. Examples are spindles crashing, damaged guide rails.

Breakdown caused by electrical or mechanical failure

If your machinery breaks due to electrical or mechanical breakdown, the warranty will pay for the repair to the machine. Examples are breakdown of bearings, failure of PCBs and electric motors.

How long can we provide the warranty for?

Up to 60 months.

What is the limit of protection?

We will pay up to the amount declared in the warranty schedule, over the life of the warranty. For new machines this is the invoice value. If you take out the warranty on a used machine when you buy it, the amount declared is the value when new discounted for age on a fixed basis.

The value always includes any additional items which form an integral part of the machine, such as gantries and bar feeders.

There is no limit to the number of payments that can be made save that the total amount that can be recovered under the warranty cannot under any circumstances exceed the value of the machinery shown in the warranty document's schedule.

There is also a maximum amount any one claim that can be recovered following a breakdown. The amount is shown in the schedule – see full terms and conditions.

What the warranty pays for

If your machine breaks down, we pay for the costs to put it back in working order. This means the costs of labour, parts and reasonable costs of travel, including any overnight stay required spent on your behalf by your repair agent to repair your machine. We pay for the expediting costs to ship parts from overseas if this is the only way to repair your machine. We pay for the costs of dismantling and re-erection less the value of any salvage parts. We may decide to repair damaged parts rather than replace them.

» For examples of claims, see here

In the event of a total loss

If the Machinery was new when the warranty began, in the event of a total loss, we pay the new replacement value of the machine including the cost of dismantling less the value of salvaged parts.

If the Machinery was not new when the warranty began, in the event of a total loss, we pay the market value at the time of the loss and the cost of dismantling less the value of salvaged parts.

Choice of repairer

You may choose the repairer you use, provided he is a recognised repairer and qualified to repair your machinery. Or, you may ask us to provide a repairer from our panel.

No bills to pay

The warranty is often available without an excess in which case there are no bills to pay. When an excess is included the level varies according to the age of the machine: new machines have an excess of £250, one year old to five years old £500, five years old to ten years old £750 and over ten years old £1000.

Cancelling the warranty

The warranty cannot be cancelled by the warranty provider.

If you are selling the machine or ceasing to trade, then you can cancel the warranty and obtain a pro rata refund or sell the machine with the warranty included. In either case the warranty must be claim free. Otherwise you cannot cancel the warranty. If the cost of the warranty is being financed, you should discuss the repayment with the finance company. In the event of the warranty being cancelled, CNC reserve the right to charge a cancellation fee of up to £250.

What's not included?

Any electrical or mechanical breakdowns:
- during the manufacturers warranty period.
- for a period of 60 days from the date the warranty begins if the warranty purchased is not an extension of an existing warranty.
Any damage caused by operator error.
- for used machines for a period of 14 days from the date the warranty begins, if the warranty purchased is not an extension of an existing warranty.
Any damage not caused by operator error. e.g. Fire, theft and collision from a third party.
- for new machines, for a period of 7 days from the date of commissioning
No consumable items are covered.
Any lasers, LEDs or other light sources outside their deemed useful life.
Any damage you cause to the machine by continuing to use it when it is broken.
Any damage or breakdown caused by a poor working environment.
Failure of the public electricity supply and from surges and variations in the electrical supply.
Electrical and mechanical breakdowns if your equipment has not been regularly serviced or maintained.