Boilers and Machinery

WHY EQUIPMENT BREAKDOWN INSURANCE?

The world is very different today:

• Elevators Talk

• Machines Think

• Building Turn Themselves on and Off

• Computers Control Equipment

• Equipment is Interconnected and Interdependent

“Property” policies exclude coverage for Property Damage and Business Interruption for Mechanical Breakdown.

Covered Equipment

• All types of computers

• Phone Systems

• Retail Scanners

• Computer Controlled Equipment

• Hand Held Order Machines

• Automated Manufacturing Equipment

• Boilers & Pressure Vessels

• Diagnostic Equipment

• Electronic Equipment

• Air conditional and refrigeration equipment

• Many other types of high tech equipment

So why add Equipment Breakdown coverage?

Many businesses tend to overlook catastrophes that they are not financially prepared for. Insured’s need to know that without this coverage they can be victims of non-covered comprehensive breakdowns. Equipment breakdown coverage will cover cost of repair or replacement of equipment that stops working suddenly and accidentally and will also cover loss of income due to the breakdown.

Equipment Breakdown is a fraction of the cost of a property insurance program and is one of the most important coverages business owners should purchase.

Comprehensive Breakdown Coverages

Property Damage ~ should a breakdown cause damage to your covered property

Business Interruption ~ should a breakdown cause a decrease to your net income

Extra Expense ~ should you incur additional cost to operate your business following a breakdown

Spoilage ~ should a breakdown damage raw materials, property in process or finished products

Utility Interruption ~ should you experience a loss caused by a breakdown at a utility

Brands & Labels ~ should merchandise be damaged

Contingent Time Element ~ to protect against loss of sale caused by other non-owned businesses

Data/Media ~ should either be lost or corrupted as a direct loss of a breakdown

Errors in Description ~ should an unintentional error occur which interferes with the payment of a loss

Expediting ~ to expedite the permanent repairs or replacement of your damage property

Newly Acquired ~ to automatically provide coverage for new locations until they are reported

Ordinance or Law ~ to provide protection against increased costs due to local ordinances and laws

Ammonia Contamination ~ should covered property be contaminated by ammonia

Hazardous Substance ~ should covered property be contaminated by hazardous substances

Water Damage ~ should covered property be damage by water

Next Generation Cover ~ replaces unrepairable equipment with state-of-the-art technology at up to 125 percent of replacement value

Selling Price Valuation ~ for all property held by an insured for sale
 

For a detailed description of coverage, download the following PDF document.  Adobe Acrobat required.

At-A-Glance Coverage Guide