Most homeowner’s policies do not cover the equipment in your home if it breaks down. Extended warranties? They are often expensive, hard to manage, and usually just cover one piece of equipment.
A little-known insurance solution
Home Equipment Breakdown Coverage offers a simple, comprehensive, and affordable solution that addresses the many expensive systems and appliances in today’s modern home:
- Home Security Systems (lighting and home environment monitoring)
- Personal Computer Equipment
- Home Electronics (surround sound systems, televisions)
- Appliances (wine cooler, kitchen refrigerators, microwaves, ovens, dishwasher, freezer units, garbage disposal, clothes washer and dryer)
- Swimming Pool Equipment/Water Heaters
- Well Water/Heat/Sump Pumps
- High Efficiency Home Heating and Central A/C Systems
- High Energy Electrical Service Panels
- Lawn and Garden Equipment
Even items that you typically think of as disposable; such as, garage door openers, exhaust/ceiling fans, DVD players and much more, could benefit from this coverage as a result of an electrical power surge or mechanical breakdown.
Often this equipment requires sophisticated diagnostic tools and skilled technicians to oversee a potential repair. Equipment breakdown coverage protects you against unexpected repair or replacement costs due to an electrical, mechanical, or pressure systems breakdown.
What does Home Equipment Breakdown Coverage include?
- Additional Living Expense (Home Equipment Breakdown Coverage covers you if your home becomes uninhabitable due to equipment breakdown; that’s another benefit most warranties and service contracts do not offer)
- Green Coverage/Pollutant Cleanup (Some insurers will pay up to 150% for repair or replacement of equipment with options that are more environmentally friendly, safer, or energy-efficient)
- If multiple pieces of property fail at the same time they can be combined together to form one claim if the cause of the loss is the same for all pieces of equipment
- With most insurers, a home equipment breakdown claim does NOT affect your claims free discount
- In addition to coverage at your residence, there is an extension for off-premises coverage up to the limit of insurance
So, what will you cover?