Owning a home is a big investment. That’s why you get insurance to protect it. But does your standard homeowners policy protect you from unexpected costs due to mechanical, electrical, or pressure systems equipment breakdown? Likely not.
That’s where homeowners equipment breakdown coverage comes into play for equipment like HVAC systems, refrigerators, and computers. Let’s explore the many ways it’s beneficial for homeowners.
What is homeowners equipment breakdown coverage?
Homeowners equipment breakdown is an affordable add-on coverage that can be added to your existing homeowners, renters, or condo policies to extend protection to your home’s mechanical, electrical, and pressure systems. Should an unexpected breakdown happen due to something like a power surge, the coverage kicks in to help pay for damages, repairs, and replacements, as well as potential food spoilage, and pollutant cleanup and removal costs.
How can homeowners benefit from this coverage?
Adding this homeowners rider provides protection for:
- Electrical or mechanical equipment including a well pump motor or air conditioning compressor
- Pressure systems like a water heater
- Power surges affecting heating and cooling systems
- Equipment that travels such as a personal computer
- Environmentally friendly appliances like solar panels
- Refrigerated property like a deep freezer
- Damage caused by equipment failure such as food spoilage or damaged clothing
Equipment breakdown does not cover damage caused by general wear and tear or deterioration.
For the minimal cost of homeowners equipment breakdown coverage, you could be spared large, unplanned expenses down the road, and rest easier knowing your valuable equipment is protected.
Talk to a local, independent agent about homeowners equipment breakdown coverage today.
