What is Equipment Breakdown Coverage?
Equipment Breakdown coverage is available through your Homeowners
Insurance Policy. Whether you are a renter or a high-value homeowner, we have your
equipment breakdown exposures covered.
“If it uses electric power, it is most likely subject to equipment breakdown.”
Often this equipment requires sophisticated diagnostic tools and skilled
technicians to oversee a potential repair. Equipment Breakdown coverage
protects you against unexpected repair or replacement costs due to an electrical,
mechanical or pressure systems breakdown. Best of all, this additional coverage
follows the terms and conditions of your insurance policy. Off-premises coverage
is now included. Coverage was previously limited to “Residence Premise” and
now we’ve extended coverage for property that is away from the described
premises.
During a family vacation, a storm caused
a power outage. A laptop computer
and cell phone were charging when
the outage occurred. When power was
restored, a voltage spike damaged the
items beyond repair and required their
replacement. With the Off-Premises
Coverage the homeowner would now be
covered!
Cost of Repairs: $3,750
A personal computer (PC) used to
control multiple systems (HVAC,
lighting and irrigation) within the home
sustained electrical damage from
a power surge. Replacement of the
computer and the unique programming
was required.
Property Damage: $2,975
Exposures
- Clothes Washers and Dryers
- Computer Equipment
- Dishwashers
- Freezer Units
- Heat Pumps
- Sump Pumps
- Garbage Disposals
- HVAC Systems
- Security Systems
- Refrigerators
- Microwaves
- Ovens
- Surround Sound
- Swimming Pool Equipment
- Televisions
- Water Heaters
- Well Pumps
It covers what most homeowners insurance excludes.
Most homeowners policies don’t cover the cost of repairing
or replacing essential equipment in your home when it breaks
down. Extended warranties? They’re often expensive, hard to
manage and usually cover just one piece of equipment. But
Homeowners Equipment Breakdown Insurance offers a simple,
comprehensive and affordable solution that covers what most
homeowners policies exclude.
All your personal property and important systems
are protected, even if you are away from your home.
Our Homeowners Equipment Breakdown Insurance covers all
of your important home systems and property due to loss by
mechanical or electrical breakdown. That includes appliances,
heating and cooling systems, swimming pool equipment, water
heaters, well pumps, garden tractors, home security systems,
electrical systems, personal computers, home electronics
and more. Off-Premise Coverage is also included if a loss occurs
to covered property while away from a covered location.
You’re protected if your home becomes uninhabitable.
Homeowners Equipment Breakdown Insurance even covers you
if your home becomes uninhabitable due to equipment
breakdown. That’s another benefit most warranties and service
contracts don’t offer.
No frustrating fine print.
Unlike limited and confusing warranties, Homeowners
Equipment Breakdown Insurance is simple and straightforward.
There are no hidden exclusions and no confusing fine print.
Submitting claims is simple too, so you can get your equipment
repaired or replaced quickly.
Peace of mind when you need it most.
The following examples of actual claims show just how
valuable Homeowners Equipment Breakdown Insurance can be.
-
A gas fired boiler was leaking water. It was determined that
the boiler’s low water fuel cut-off failed, causing the boiler
to overheat. The boiler could not be repaired due to its age,
so replacement was necessary. After the deductible, their
Homeowners Equipment Breakdown Insurance paid them
$5,200 to replace the boiler.
-
A 200 amp electrical panel overheated, causing an overload
condition which damaged its six circuits. It was determined
that the electrical panel needed to be replaced. After the
deductible, their Homeowners Equipment Breakdown
Insurance paid them $1,625 to replace the panel.
Talk to your insurance agent.
Your insurance representative can tell you more about all the
advantages of Homeowners Equipment Breakdown Insurance
— including how affordable it is. Remember, sooner or later an
important piece of equipment in your home is going to break
down. Don’t leave yourself unprotected.
Call your insurance
representative today.