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Insurance and Wellness Blog

Equipment breakdown coverage - Don't be a lesson learned

Posted by Kapnick Insurance Group on Feb 7, 2017 4:43:13 PM

Even though equipment breakdown insurance is one of the best coverage, service and price values in the industry, some business owners and operators continue to skimp on or do without this vital protection. Loss lessons in your business can be learned the easy way or the hard way. 

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Below is a loss example of equipment breakdown loss.

An incoming electrical surge, caused by the breakdown of a utility-owned transformer, resulted in the failure of the communications, heating and air-conditioning control systems of a metropolitan apartment building. All the control systems were replaced. The insured also lost business income due to residency reductions during the lengthy repair.

LOSS:

Property Damage - $120,000
Business Income - $210.000

 



BOTTOMLINE we work hard  to help our clients be better prepared for the future and avoid business interruptions. No matter what industry you are in Equipment Breakdown Coverage is worth the investment. 

Contact a Kapnick Client Executive to learn how NOT to become a Loss Lesson learned the hard way!

888-263-4656

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Topics: equipment breakdown coverage