Property policies cover equipment damaged by an external event such as fire or storm. They exclude the equipment failing on its own: electrical arcing, motor burnout, compressor failure, and power surge. Equipment breakdown is the coverage for that.
Covers the costs associated with repairing or replacing equipment that breaks down. This can include machinery, computers, and other vital tools.
If the breakdown disrupts business operations, this coverage helps compensate for lost income during repair periods.
It pays to repair or replace equipment that fails internally, including the HVAC, refrigeration, and electrical systems that a Florida building runs on year round.
It generally covers the resulting loss as well, such as spoiled stock after a refrigeration failure and the income lost while the equipment is down.
Coverage typically includes machinery, computers, HVAC systems, and other essential tools used in your business operations.
At Wolf Insurance, we are committed to helping you protect your essential equipment with comprehensive equipment breakdown insurance solutions. Contact us today for a free quote and ensure your business stays operational!
Equipment breakdown insurance covers the repair or replacement costs of machinery and equipment that break down due to mechanical failure, electrical failure, or other causes. This insurance is vital for businesses that rely on equipment for their operations.
This is usually a small endorsement rather than a standalone policy, and it is one of the most commonly omitted. It costs little and it is the difference between a rooftop air conditioning unit being a covered loss and being an unbudgeted capital expense. We add it where the operation depends on machinery, and we say so when it is not worth carrying.
Costs can vary based on the type of equipment and the coverage limits you choose. Our agents can provide you with a tailored quote.
Contact your insurance agent at Wolf Insurance, who will guide you through the claims process and assist you with the necessary documentation.
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