The machinery is common property and you have to insure it,. But you’re not insuring it against breakdown due to wear and tear, your insuring it against some catastrophe like a fire or it being damaged as a consequence of some unexpected event.
Take your car insurance, for instance. That doesn’t cover your annual service or break-downs. It covers it for theft and accident.
Your real “insurance” against the wear and tear of machinery comes in the form of regular professional maintenance. That’s the price you pay for making sure things work when you need them to.