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Posted: 04.05.2011
Solving the Myster Behind Equipment Breakdown Coverage

Computers. Telephones. Networks. Heating and colling systems. Refrigeration. Machinery. The vast majority of us absolutely rely on these at our places of work day in and day out. We rely on them to produce our output on schedule, keeping our customer base satisfied - and loyal. But, for many of us, these vital tools remain uninsured.

If you operate a business, your business is almost certainly reliant on technology and equipment in order to run properly every day. And yet, you may well have never heard of Equipment Breakdown Insurance.

Equipment Breakdown Insurance has been around since the late 1860's, back when it was more commonly known as Boiler and Machinery Insurance. This is a long existence by any insurance product standard, but what exactly is it?

Simply put, Equipment Breakdown Insurance covers the physical damage and the financial damage caused by an equipment breakdown. This includes property damage, business interruption, and spoilage losses, among other things, which stem from accidents to equipment.

In today's world, where nearly every business depends on some type of technology or machinery to operate, Equipment Breakdown Insurance is more important than ever.

When equipment breaks down, it is often unexpected, and it can cause your business to come to a screeching halt, or, at minimum, become seriously hampered. This is a costly risk for businesses, particularly those specializing in manufacturing or processing, as well as for municipalities.

Wether your business relies on electrical distribution, production machinery, refrigeration, or computers, that equipment is vital to your operations.

If your business depends on at least one piece of equipment for its daily existence, Equipment Breakdown Coverage is an important aspect of your business planning.

According to the Hartford Steam Boiler Inspection and Insurance Company, one of the world's most prominent Equipment Breakdown insurers, this type of coverage includes protection against covered losses caused by short circuit, electrical arcing, power surges, mechanical breakdown, motor burnout, boiler damage and operator error. Some of the common losses are related to heating and cooling systems, telephone systems, computers, and refrigeration systems.

Equipment Breakdown Coverage can help protect you from unexpected events by covering a variety of costs associated with the equipment's breakdown. Some of these costs are:

  • Direct Property Loss, which covers the cost to repair or replace damaged equipment.
  • Business Income replaces income lost due to a total or partial business interruption following equipment breakdown.
  • Service Interruption extends the income coverage for interruptions due to loss of electricity and other services caused by equipment breakdown.
  • Extra Expense pays extra costs to sustain normal operations such as hiring work out or renting temporary equipment.
  • Expediting Expense covers other expenses incurred to limit the loss or to speed up the business restoration.

Jeff R. Johnson
Brown & Brown of Kentucky



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Securities and Advisory Services offered through M Holdings Securities Inc., a Registered Broker/Dealer and Investment Adviser, Member FINRA/SIPC. Brown & Brown of Detroit, is independently owned and operated from M Holdings Securities, Inc. Brown & Brown of Detroit is a wholly owned subsidiary of Brown & Brown, Inc.

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