Connect the policy to the property
Equipment breakdown coverage can address specified sudden and accidental breakdown to covered equipment, along with related property damage, business income, spoilage, or expediting expense when selected. Maintenance problems, wear, corrosion, and gradual deterioration may be excluded.
Risks to review
- Electrical arcing, motor failure, pressure-system rupture, or control malfunction
- Production, refrigeration, HVAC, elevator, boiler, or electrical downtime
- Spoilage, contamination, data, or dependent-equipment loss
- Specialized parts, technicians, or replacement equipment with long lead times
Information to prepare
- Critical equipment list, age, value, use, and location
- Maintenance, inspection, service, and monitoring records
- Replacement lead times, bottlenecks, backup capacity, and rental options
- Property, income, spoilage, utility, and expediting-expense needs
Frequently asked questions
Is equipment breakdown the same as equipment wear and tear coverage?
No. Wear, corrosion, deterioration, and maintenance issues may be excluded. The event must satisfy the policy's breakdown definition and other terms.
Can equipment breakdown include business income?
It may when the appropriate coverage is selected and a covered breakdown causes a qualifying suspension. Limits, waiting periods, and forms vary.
Coverage descriptions are general. Eligibility, availability, limits, deductibles, valuation, exclusions, and policy terms vary. Actual policy documents control.