Equipment Breakdown Insurance
Equipment Breakdown provides coverage for electrical mishap perils for property that’s insured. Covered equipment would include system’s equipment that’s relative to the buildings operations such as air conditioning units, electrical power panels, pressure vessels and boilers (includes kitchen equipment). Included is expediting expenses, which are reasonable extra costs to make temporary repairs to expedite permanent repairs.
Do you need Equipment Breakdown Insurance?
Within each business there’s critical equipment that’s used to drive the performance of your businesses. The following are five major exposure areas of equipment breakdown that your business might be exposed to.
Record storage areas may require environmental controls to maintain the required humidity and temperature for stored electronic media or paper records.
Mechanical refrigeration systems rely on compressors, chillers, cooling towers, condensers, air handlers and controls to keep the temperature under control. Losses to this equipment can create long interruptions, require cranes to remove equipment and require extraordinary steps to protect processes.
Electrical losses can cause damage that requires replacement of transformers, wiring, controls and other components that are difficult to access or would require significant labor to remove and replace.
Reach out to me if you’re considering Equipment Breakdown Insurance. I will discuss with you how it works and assess if it fits into your risk management needs. If you determine this coverage is needed I will then provide you with comparative Equipment Breakdown Insurance quotes from multiple insurance carriers so you can get the best possible rate.
As an insurance broker I help businesses throughout Oregon and the Pacific Northwest manage risk.