Tom's Blog
No matter what type of business you own, you utilize various types of equipment and at any given time, they could fail to work. Would you know what to do if any piece of that equipment were to break down? When you run a business, you can expect unfortunate events to occur, but when they do, knowing how to avoid loss of income due to equipment breakdown is imperative if you want your N.C. business to prevail.
Expect the Unexpected
Imagine you are the owner of a high-rise apartment building that houses elderly residents when the A/C motor malfunctioned, resulting in excess of 92-degree temperatures. As a result of this equipment failure, many “spot coolers” have to be rented to cool down the housing temperatures, which instigates a loss that exceeds $100,000. Would you be able to financially withstand this type of loss with the business coverage you currently have? You can expect that at some point in time, your business equipment WILL breakdown. Are you prepared?
Equipment Breakdown Insurance
Your N.C. independent insurance agent can advise you on this type of “add-on” to your business insurance policy to determine if your business could benefit from this type of equipment breakdown protection. Under a standard N.C business property form, many things are excluded for certain mechanical breakdown circumstances, however if you have the Equipment Breakdown insurance, it will provide coverage and fill in gaps for mechanical, and electrical breakdowns that may otherwise be excluded, which could devastate the future of your business.
Covered equipment in an Equipment Breakdown policy is normally anything that produces, communicates, or uses energy, including electronic communications. Most businesses rely heavily on electronic equipment and computers so it’s important to have protection for these types of mechanical breakdowns that could wreck havoc on your business revenue.
Your Peace of Mind is Priceless
Don’t’ wait until it is too late. Contact your N.C. independent insurance agent TODAY to check what type of business coverage you currently have and determine if you need to add Equipment Breakdown insurance to your already existent business insurance policy. For a minimal cost, you will be guaranteed peace of mind that even if a mechanical breakdown occurs, you will be properly protected. For any and all questions, call our office today at 866-869-3335!
