Bob Turner Agency, Inc. in partnership with our specialty carriers offer an alternative to traditional equipment maintenance agreements. This program offers the most competitive industry pricing, flexible terms, and individual customization possible. The program offers an alternative to outdated traditional contracts and maintenance insurance. This program is designed to use components of both insurance and self-insured retention plus technical expertise, loss control, and information management to assist in budget development and implementation that produces cost savings to your facility. Many clients across the United States and Canada have saved over 42% of their annual budget by utilizing this proven system.
An equipment coverage program is designed to replace traditional manufacturer's service contracts and/or maintenance insurance. The policy provides clients with a solution to the maintenance management problem. These solutions consist of the following:
1.Average savings of 20% to 50%. Equipment Coverage contains a guaranteed initial savings over the traditional vendor service contracts or maintenance agreements. The program establishes a premium cost for budget protection insurance, A self-insured retention budget or aggregate deductible is established for routine maintenance. This creates a substantial cash flow advantage for the client by reducing the cash outlay for insurance or vendor service contracts. Successful maintenance cost containment will provide additional savings from the balance of funds remaining in the aggregate deductible budget.
2.Insured Maintenance Budget The program combines budget protection with the technical and administrative expertise to guarantee the minimum savings by reimbursing the client for all repairs over the aggregate deductible.
3.Maintenance Management Improvement Equipment Coverage consolidates all equipment to one maintenance agreement with fewer exclusions and broader coverage. This eliminates the cost of multiple service contract management with each contract's varying service provisions and optional coverage. This feature allows clients to use their choice of service providers to effect repairs on a time and materials basis. This offers the client the most cost effective services through a more competitive procurement process.
4.Technical consulting and reports The carrier of choice provides technical consulting in the following areas:
*Capital equipment replacement recommendations *Competitive service providers *Loss history analysis *Parts acquisition *Preventative maintenance budget and schedule *Program implementation and cost control training *Repair cost review *Vendor/service provider cost negotiations.
5.In-house Reimbursement Equipment Coverage will reimburse the in-house repair cost, allowing for greater cost reduction. This creates the opportunity for the financial justification of improving in-house technical staffing and training.
a fixed-cost alternative to current maintenance budgets, offering substantial savings
immediate savings of up to 42 percent over original equipment manufacturer service contracts
one insurance contract covering all your equipment
savings guaranteed through an excess insurance program
budget protection for all your equipment repairs and preventative maintenance
enhanced, better coordinated asset management program
optional seamless coverage among property, boiler and machinery, business interruption, and maintenance insurance.
reimbursement for in-house maintenance and repairs
technical consulting services
leverage for future service and capital procurement
The Potential Impact on YOUR Maintenance Budget
YOU establish a self-insured retention to pay for ordinary repairs and ongoing maintenance
Under existing service contracts:
Total annual cost all service contracts: $1,000,000
The carrier provides insurance for catastrophic breakdowns, as well as emergency advice and assistance on service providers and parts suppliers.
With Equipment Insurance: Premium: $230,000 Self-insured retention: $500,000 Preventative maintenance: (included) Total program cost: $730,000
The Consultative Expertise
Minimum Savings: $270,000
Repair cost reviews
Potential additional savings:
Identifying competitive service providers
Self-insured retention: $500,000
Loss history analysis
Preventative maintenance budget and scheduling
ACTUAL repair costs: $425000 Additional savings: $75,000 (7.5%)
Capital equipment replacement recommendations
POTENTIAL TOTAL SAVINGS:
Service provider negotiations
Consultants provide the technical support. EC is responsible for implementation and training of the loss control management policies and procedures that will be a vital part of the program's success. These loss control policy and procedure guidelines and customized to meet each client's specific requirements. The program does not necessarily change the service provider; it jus changes the method of payment. By paying only when you use the service, overall cost is reduced by increasing competition for the service dollar. Further savings can be leveraged through the benefits of the comprehensive loss control information.
The policy provides alternative parts and service sources during the repair process. All parts and service alternative providers have been screened by the carrier and all parts are equal to or superior to Original Equipment Manufacturer's specifications. This approach has demonstrated that the use of alternative competitive parts and service sources has greatly reduced cost.
Consultants use the client supplied field service reports and service invoices to establish the payment history. The monthly Loss History report becomes the basis of the information used to control long-term cost (Asset Management). The monthly report provides not only an itemized cost of all service performed but also a record of all preventative maintenance done and when the next service is due. Additionally, the information will provide management with a tool to make important future cost effective decisions. The information includes:
Detailed cost analysis can determine whether a piece of equipment should be replaced, based on the trend of supporting cost. This analysis will also give the client the total dollars spent with each vendor, providing a negotiation tool to leverage additional savings in services rendered and capital equipment purchases.
In-house technical support staff utilization is determined by reviewing the cost per equipment area and based on dollars spent, establishes the financial justification for development of cost effective in-house support. These decisions can add thousands of dollars to the bottom line of the client's overall budget savings.
Total Quality Management
Total quality management provides the client with true long-term cost of ownership. This program achieves this goal by documenting total cost and providing the information necessary to make long term projections for service cost, personnel utilization, and capital equipment purchases.
·Immediate cost savings of 20% to 50% over Manufacturer's Service Contracts
·Cash Flow: The organization purchases an excess insurance policy from Kemper Insurance to cap the annual maintenance budget. The remaining budget amount (aggregate or self-insured retention) may be invested until required to pay for preventative maintenance or repairs of covered equipment.
·Self-insured retention fund is managed and controlled by the organization.
·Coverage includes 24 hours per day / 7 days a week - labor, parts, travel, overtime, shipping, telephone support, in-house labor, expediting expenses, loaner equipment, operator error, and preventative maintenance.
·The organization has autonomy on selection of vendors to provide service.
· Consultants provide technical expertise before, during and after maintenance events.
·Comprehensive equipment coverage
·Loss History Report documents maintenance activities by equipment item.
·Quality review of all maintenance invoices.
·Program implementation and cost-control training.
Eligible for Coverage:
Computer PCs and Peripherals
Card Access Systems
Pagers and Paging Systems
Environmental Control Systems
Voice Mail Systems
Fire Protection Systems
Transient Voltage Protection
Uninterrupted Power Source
Pneumatic Tube Systems
Visual Auto Teller
Rotary Filing Systems
Boilers and Chillers
Please review carefully!
Information is not an offer to sell insurance. Insurance coverage cannot be bound or changed via submission of this online form/application, email, voice mail or facsimile. No binder, insurance change, addition, and/or deletion to any insurance policy coverage goes into effect unless and until confirmed directly with a licensed agent. Note any proposal of insurance we may present to you will be based upon the values developed and exposures to loss disclosed to us on this online form/application and/or in communications with us. All coverage is subject to the terms, conditions and exclusions of the actual policy issued. Not all policies or coverage is available in every state.
Please contact our office at 918-346-6973 or 918-660-0090 to discuss specific coverage details and your insurance needs. In order to protect your privacy, p/ease do not send us your confidential personal information by unprotected email. Instead, discuss that personal information with us by phone or send by fax.
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