Here’s why you should invest in equipment breakdown coverage.

While you might already have standard commercial coverage for your business, there are other insurance options that you should consider for your business as well. For instance, if your business hinges on the use of specialty equipment, you should consider getting equipment breakdown coverage. Here’s what you should know about this type of coverage.

Your Commercial Property Policy Doesn’t Offer the Coverage You Need

While you might think that your business’s equipment is completely covered by commercial property insurance, your policy only offers limited coverage. In fact, commercial property only covers damages and losses that result from things like vandalism and theft. If your equipment sustains damages from other issues, such a mechanical breakdown, your commercial property coverage won’t do anything to help.

What Does Equipment Breakdown Insurance Cover?

The best way to protect your equipment from mechanical breakdown, electrical arcing, explosion of boilers, and so on is with equipment breakdown insurance. This type of insurance covers sudden damage to equipment that requires immediate repair or replacement. This type of policy applies to the following categories of equipment:

  • Electrical
  • Air Conditioning
  • Refrigeration
  • Boiler and Pressure Vessel
  • Computer and Communications
  • Mechanical
  • Renewable and Alternative Energy
  • Production Systems

Why It’s Worth It

While equipment breakdown insurance is not a mandated coverage, this insurance is the best way to protect your business from the effects of broken equipment. Because broken equipment could cause you to miss deadlines, strain customer relations, and lose revenue, many business owners recognize the importance of having this type of policy.

Here’s why your business should have equipment break down coverage.  Looking for the right commercial coverages for your business?  Don’t hesitate to contact us at Scautub Agency in Scotia, New York.  Our dedicated team is ready to get you the coverage that you need today.