Equipment Breakdown Coverage.

 Equipment Breakdown Coverage💀.

                                  {for your business}

It is hot, Really hot, 

          A grocery store owner is preparing to open for business for the day when he notices something is wrong. He follows the river of chocolate and vanilla ice cream to the freezers in the back of the store and realizes every one of them has stopped working. As he watches thousands of dollars of ice cream, meet and pizza thawing out before his eyes, he wonders where he will find the money to not only replace the food but the useless freezers as well.     

           What equipment do you use in your business? 

           What would you do if any piece of that equipment were to break down?

                you have seen how it would affect our grocery store owner. What if you operate a restaurant and your ovens, stoves, or fryers stop functioning? 

             or if the machine in your manufacturing facility that generates a large number of your finished goods breaks down? 

Property Coverage Forms. 

Generally exclude losses caused by:

                 Mechanical Breakdown 

                 Artificially Generated Electrical Currents

                 The explosion of Steam Boilers and Steam pipes

This is where Equipment Breakdown Coverage steps in and fills that gap. 

Covered Equipment.

    Covered equipment in an Equipment Breakdown policy is normally anything that generates, transmits, or utilizes energy, including electronic communications and data processing equipment. 

    Anything that normally operates under vacuum or pressure is also covered. Think of your computers and the other electronics you own. Even the simplest of businesses use these types of equipment. 

Loss by Electronic Circuitry Impairment.

     The coverage even addresses loss by electronic circuitry impairment. 

      Microelectronic parts:

                             Circuit Boards 

                             Computer Chips

                             Micro - Circuitry 

     If replacing these types of parts fixes the problem, the cost is covered. 

Warranty   

     You may think you don't need Equipment Breakdown coverage if you have newer equipment still under warranty, but when you rely only on the warranty you create more work of yourself by needing to document the purchase and keep track of whether or not the warranties are still valid. When you are busy running a business, this is not usually a priority. 

Warranty Limitations.

      Another problem with relying on warranties is most of them limit what is actually covered. Typically, a warranty will only cover the cost of the replacement part or unit. Items not usually covered include the cost of the labor, any extra expenses incurred for a temporary fix, or the business income loss from having to shut down your business.     

Another Advantage...

      Another advantage to carrying Equipment Breakdown coverage involves the inspection process. 

Inspection Requirements.

      Nearly all states require that boilers be inspected to ensure safe operation. 

         The state generally charges to perform this inspection 

         most companies that offer Equipment Breakdown will skip the Inspection service fee! 

The Ultimate Question.

      Ultimately, you need to ask yourself if the premium charged for the coverage is worth the satisfaction of knowing your business won't suffer a financial loss if there is an interruption.

      Contact your agent today to learn more about how central's Equipment Breakdown coverage can help you avoid a budget breakdown!