Compare the Best Equipment Insurance in Singapore

We partner with business insurance specialists to help you compare and find the best equipment insurance policies.

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What is Equipment Insurance?

Equipment insurance in Singapore is a specialised type of coverage designed to protect businesses from financial losses related to their equipment and machinery.

This insurance covers the repair or replacement costs of insured equipment that may be damaged due to events like accidents, theft, vandalism, or breakdowns.

For businesses that rely heavily on machinery or technological equipment, such as manufacturing plants, construction companies, and IT firms, equipment insurance is essential to ensure operational continuity and financial stability in the face of unexpected incidents.

Machinery All Risk Insurance

Machinery all risk insurance provides comprehensive coverage against any sudden and unforeseen physical damage to machinery, whether in operation or at rest, ensuring continuous production and financial stability.

Electronic Equipment Insurance

Electronic equipment insurance covers loss or damage to computers, laptops, electronic devices, and related systems, offering protection from risks like electrical failures, software malfunctions, and accidental damage.

Why Equipment Insurance?​


Protect Your Investments

Equipment insurance in Singapore is crucial as it safeguards your financial investment in machinery and technology that are essential to your business operations. By covering repair or replacement costs, this insurance ensures that unexpected equipment failures do not cripple your financial resources.


Ensure Business Continuity

Equipment insurance helps maintain business continuity by minimising downtime due to equipment malfunctions or damages. Quick recovery through insurance support means less disruption to your operations, preserving productivity and revenue streams.


Leasing Requirements

Equipment insurance is often required for leased machinery to comply with lease agreements that mandate coverage. This insurance ensures you meet contractual obligations, protecting both the lessor's and your interests in the leased assets.

Who should get equipment insurance?

Businesses with Heavy Machinery

Companies that operate in sectors such as construction, manufacturing, or logistics often rely on heavy machinery which can be expensive to repair or replace. Equipment insurance is crucial for these businesses as it provides financial protection against mechanical breakdowns, ensuring minimal operational disruption.

Technology-Dependent Enterprises

Businesses that depend heavily on technology, such as IT companies, data centres, and tech startups, need equipment insurance to safeguard their electronic devices and hardware. This insurance helps manage the risks associated with device malfunctions, which can lead to significant data and productivity losses.

Businesses with Expensive Equipment

Businesses that operate with high-value assets, such as laptops in tech firms, sports equipment in fitness centres, and audio-visual gear in events companies greatly benefit from equipment insurance. This insurance is essential as these businesses rely heavily on their equipment for daily operations and cannot afford the downtime or financial burden caused by equipment breakdowns or damages.

Best Equipment Insurance Plans in Singapore

liberty insurance logo

Liberty Equipment Insurance

Liberty Insurance offers a comprehensive Electronic Equipment Insurance plan tailored to protect your company's equipment against accidental loss or damage.

This policy is designed to support modern businesses that depend heavily on electronic data storage and access.

Notably, this plan extends beyond basic coverage to include work-related costs incurred due to accidental equipment damage, ensuring your operations continue smoothly without financial strain.

The policy is subject to terms, conditions, and exclusions, making it crucial for policyholders to understand the coverage fully to leverage its benefits effectively.
tokio marine logo

Tokio Marine Equipment Insurance

Tokio Marine's Electronic Equipment Insurance provides robust protection against sudden and unforeseen events that could impair your electronic equipment.

Coverage includes mechanical and electrical breakdowns, faults due to material or design issues, and damages caused by external electrical phenomena like lightning or short-circuiting.

This policy also extends to external data media, such as tapes and disks, and covers the increased cost of working, which includes expenses for replacing equipment.

It's important to note that this policy excludes wear and tear, wilful acts of negligence, and other specific scenarios outlined in the policy terms.
eq insurance logo

EQ Equipment Insurance

EQ Insurance offers a policy that covers Electronics All Risk, protecting your machinery and equipment from accidental physical loss or damage.

This coverage is essential for businesses that rely on continuous machinery operation, safeguarding against unexpected and sudden physical damages.

The policy includes all risks except those explicitly excluded, providing a safety net that ensures minimal disruption to your business activities.
China Taiping logo

China Taiping Equipment Insurance

China Taiping offers Equipment All Risks insurance that covers unforeseen and sudden physical loss or damage from any cause, except those explicitly excluded, to equipment that is to be erected.

This broad coverage ensures that businesses are protected against a wide range of mishaps that could affect their equipment, safeguarding the financial stability and operational continuity of the company.

This policy is designed to offer peace of mind, enabling businesses to focus on growth without worrying about potential equipment-related disruptions.
allianz logo

Allianz Equipment Insurance

Allianz provides a comprehensive suite of Engineering insurance solutions, which includes Contractors’ All Risks and Erection All Risks Insurance, covering all risk types during the construction period.

These policies protect against loss or damage to property and third-party liabilities for accidental bodily injury or property damage, excluding specific causes.

Additionally, Allianz's Electronic Equipment Insurance covers material damage to equipment due to unforeseen events, costs of external data media, and increased costs due to equipment breakdown.

This extensive coverage helps safeguard your ongoing projects and the machines and equipment involved.
etiqa logo

Etiqa Equipment Insurance

Etiqa’s Engineering Insurance covers risks during construction or installation projects, including Contractors’ All Risks and Erection All Risks, and extends to Electronic Equipment coverage for loss or damage due to accidents.

Their Machinery Breakdown policy covers physical loss or damage to plant and machinery, including consequential loss of profits.

This comprehensive coverage ensures that your projects are protected from a broad spectrum of risks, contributing to smoother operations and fewer financial uncertainties.
chubb insurance logo

Chubb Equipment Insurance

Chubb specialises in Boiler & Machinery Breakdown Insurance, providing coverage for physical loss or damage to machinery across various industries.

This insurance is particularly effective for large industrial companies due to Chubb's capacity and expertise in global risk management.

Optional coverage includes business interruption and additional increased cost of working, which can be tailored to meet specific needs, ensuring gapless protection and addressing potential Joint-Loss concerns effectively.

How to apply for a comparison session?

Step 1

Submit a request for a quote with Corporate Cover. Based on your request, we will match you with one of our MAS-licensed partners.

Step 2

Our partners will obtain quotations from the respective insurers and help you compare based on price, features, and suitability.​

Step 3

Once you've found the perfect equipment insurance policy, feel free to purchase it from a friend, directly from the insurer, or from our partners!

Is equipment insurance compulsory in Singapore?

Equipment insurance in Singapore is not compulsory by law; however, it may be required by contract or lease agreements, especially when the equipment is financed or leased. Businesses often opt for this insurance to protect against significant financial loss and ensure uninterrupted operation in the event of equipment damage or failure.

What does equipment insurance not cover?

Equipment insurance typically does not cover damages that result from normal wear and tear, intentional misconduct or misuse by the insured, or inherent defects in the equipment. Also, losses due to events like natural disasters, war, or nuclear hazards may be excluded unless specifically added to the policy.

How much equipment insurance do I need?

The amount of equipment insurance you need depends on the total value of your equipment and the level of risk exposure your business faces. It’s important to assess the replacement costs of all your equipment to ensure that your insurance coverage is sufficient to cover any potential losses without significant financial impact to your operations. Consider consulting with an insurance specialist who can help tailor the coverage to match the specific needs and risks of your business.

Can I buy equipment insurance online?

Yes, you can buy equipment insurance online, including from our partners!

Corporate Cover partners with business insurance specialists that help you directly purchase policies, compare different options, and manage your insurance coverage conveniently.

Buying online often provides the added benefit of accessing detailed information about the policies and quicker processing times, allowing for immediate coverage confirmation.

What equipment insurers can your partners help me with?

Our partners can broker for a wide range of reputable insurers, ensuring that you have access to diverse options to suit your specific business needs. Some of the insurers they work with include AETNA, AIG, Allianz, AXA, Chubb, and many others. These partnerships enable you to explore various insurance solutions, allowing for a customised approach to protecting your business equipment.

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Why you should get your equipment insurance with Corporate Cover


Maximise Your Financial Security

With Corporate Cover, you can protect your valuable equipment without breaking the bank. Equipment insurance through us ensures that you are not faced with sudden, significant out-of-pocket expenses for repairs or replacements. This protection helps you manage your budget more effectively and allocates your resources to areas that directly contribute to revenue generation.


Ensure Compliance and Avoid Penalties

When you choose equipment insurance with Corporate Cover, you’re not just buying a policy; you're ensuring that your business complies with any lease or finance agreements that require such coverage. This compliance is vital as it helps you avoid potential legal penalties and contractual issues that can arise from uninsured losses, ensuring your operations run smoothly.


Exceptional Customer Support

At Corporate Cover, we prioritise your needs by providing top-tier customer service. Our dedicated partners are here to assist you in every step of the insurance process, from choosing the right policy to handling claims. This support not only simplifies your insurance experience but also ensures that any issues with your equipment are resolved quickly and efficiently, minimising downtime and keeping your business moving forward.

Find The Perfect Equipment Insurance Policy Today!