Equipment Breakdown Insurance

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Equipment Breakdown Coverage for the Equipment You Seriously Love

One of the most overlooked insurance coverages that protects what you depend on most is Equipment Breakdown Coverage.

Let’s get real...

Your equipment is your lifeline. It’s what you use every day to get the job done. You rely on it - depend on it - and give it the upmost care. But no matter how much you baby it, even well-maintained equipment sometimes breaks down.

Nice Try, I Don’t Need Equipment Breakdown Coverage

Equipment Breakdown Coverage is not a warranty program. There are many common scenarios that small business owners find themselves in where they didn’t have proper coverage and they paid the ultimate price.

Can you afford the bill on these expensive equipment repairs?

“I have a manufacturer's warranty on my equipment. Why do I need equipment breakdown insurance?”

Because what most small business owners don’t consider is that warranties only cover limited timeframes—usually a year or less—and they exclude any damage that is at the fault of the operator.

“I don’t have tons of expensive equipment. Do I really need to insure my equipment with this extra coverage?”

Think bigger! Equipment Breakdown Coverage can include all types of equipment that you use on a daily basis, no matter how much it costs or whether you use it on a job site or in your office. From generator failure and motor burnouts, to electrical surges and faulty circuits, protect yourself from the losses caused by equipment that goes down.

"What are some equipment breakdown coverage examples?”

Blueprint machines, computers, office printers, a/c compressors, boilers and generators—just to name a few. These devices are connected to power sources and use electricity, so they are susceptible to equipment breakdowns. Repairs to these types of equipment can cost upwards of $40,000, which is more than enough to bring day-to-day operating abilities of many businesses to a grinding halt.

A Breakdown of What Your Breakdown Coverage Gets You

Equipment Breakdown Coverage usually covers the following:

  • Costs of direct physical damage to equipment caused by mechanical failure and electrical breakdown
  • Business income or spoilage losses due to equipment breakdown and extra expenses which you incur to minimize loss
  • Losses caused by: short circuit, electrical arcing, power surges, mechanical breakdown, motor burnout, boiler damage, operator error, or mobile equipment or technology break-down, even if your equipment is off-premises
  • Losses caused by microelectronic failure, even if physical damage is not detectable or non-physical damage such as software failure results in a breakdown
  • Expenses which you incur for data research, repair and restoration services, and lost income when your cloud service provider has an outage due to an equipment breakdown
  • Costs for restoring your data that’s lost or damaged due to a breakdown of covered equipment owned by you or your service provider
  • Costs for public relations services to manage your reputation damage when a breakdown causes a business income loss
  • Costs to repair or replace covered property contaminated by fungus, wet rot, dry rot, and bacteria, or hazardous substances released due to a breakdown
  • Additional costs up to 150 percent of the original loss, for upgrades to equipment that’s more energy efficient, safer or more environmentally friendly

Think bigger when it comes to your coverage. Can you work if a power surge damaged your electrical equipment? Probably not, Equipment Breakdown is an essential coverage that helps keep your business thriving.

Working with Westfield for Equipment Breakdown Coverage

Westfield Insurance agents get small business owners. When recommending Equipment Breakdown Insurance for you and your business, we speak from years of working with business owners. From the moment you speak to a Westfield agent, you’ll know you are speaking with someone familiar with your industry, someone who speaks your language, and someone who values your time.

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Independent Westfield agents are ready to help you understand your risks and find the coverage you need. Use our online tool to find an agent near you today.

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