Understanding Equipment Breakdown Coverage Peter Donnell - Donnell Insurance Brokers Ltd.
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o matter what type of business you own, you rely on equipment to some degree to deliver products and/ or services to your customers. Whether it’s the air conditioning unit or your computer network, an equipment breakdown could negatively impact your operation–and ultimately your bottom line.
Equipment breakdown insurance helps keep your out-of-pocket expense to a minimum when your equipment bites the dust. This optional coverage can be added to your commercial property insurance policy. Types of Equipment Covered If an accident damages your business equipment or it simply breaks down, equipment breakdown insurance can help cover the cost to replace or repair it. This coverage applies to any equipment you use to keep your business running including: • Mechanical and electrical equipment
• Air conditioning and refrigeration systems • Boilers and pressure equipment • Security and alarm systems If you operate a food business, coverage may also help replace food spoiled because of an equipment breakdown. Covered Incidents There are many reasons your business equipment could become inoperable and force you to have to repair or replace it. Depending on the policy you select, covered incident may include: • Operator error • Power surges • Short circuits • Mechanical breakdowns
• Computers and communication equipment
(905) 319-2252 | (877) 338-2252 | peterd@donnellins.com 34
BlockTalk - Summer 2020
www.meatpoultryon.ca
