For most commercial insurance buyers, the property insurance policy or property coverage section of a package policy may not provide enough coverage if you use or own:
Most property policies have four basic exclusions that make boiler, machinery and equipment breakdown coverage necessary. These exclusions include:
Most property insurance policies exclude loss caused by the perils above. The Equipment Breakdown Insurance Policy covers these perils for direct damage to the building and personal property and indirect loss such as loss of income and extra expense.
We normally recommend purchasing this coverage as an endorsement to your package or property policy. However, we will often recommend purchasing and customizing a stand-alone policy when a business owns a lot of equipment.
Are you confident your current insurance program includes Equipment Breakdown? Give us a call to analyze your current coverage. We can show you options that expand coverage without increasing cost.
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