A fixed price for five years of insurance cover against mechanical and electrical breakdown, which also includes accidental damage and operator error, is available for Colchester CNC lathes.

A fixed price for five years of insurance cover against mechanical and electrical breakdown, which also includes accidental damage and operator error, for the Colchester range of CNC and combination lathe ranges, is now available from Colchester Sales Technical Centres which provides up to 100 (pounds sterling) a day compensation when the machine is out of action. Based in Heckmondwike, West Yorkshire, the 600 Centre in Shepshed for the Midlands and at RK International in Erith, Kent, for the South of England, the customer orientated Colchester Sales Technical Centres provide full demonstration, sales and applications support. The Colchester Sales 'fixed price' cover can be paid against a monthly premium spread over the five years, added to any cost of finance for the machine or can be paid as a loan in a separate finance package.

For example, to purchase a top of the range Colchester Tornado 120M, three-axis mill/turn lathe worth GBP 49,500 the additional premium over five years would work out toGBP 3,712.50p plus IPT tax at five per cent.

If the premium were paid separately over 60 months, with finance support it would be just GBP 80.75p per month.

Advantages of the scheme include immediate attention to the repair by a Colchester Lathe factory trained engineer and the machine being insured for its full replacement value.

Claims up to GBP 12,500 or 50 per cent of the full value are covered, which ever is the lower.

For machines up to GBP 100,000 in sales value, compensation is included for up to six months when the machine is out of action at GBP 100 per day.

Cover for fire, aircraft and explosion is automatically included for machines worth up to GBP 100,000, which is transferable to new owners when the machine is sold.

This is an important advantage that increases the residual value of the machine.

However, wear and tear is excluded from the policy and the first GBP 250 of each claim is set aside as an excess payment.