No one wants to spend the summertime dealing with a broken air-conditioning system, with no way to escape the heat and a substantial repair price along with it. Unfortunately, mechanical breakdowns are pretty unpredictable…and are not covered under a homeowner’s insurance policy. Mechanical breakdowns occur most often in household machinery such as pumps, fans, engines, motors, generators, hot water heaters, air-conditioning systems, refrigeration units and automatic sprinkler system controls – things that are pretty important to have this time of the year!
Machinery breakdown losses can go beyond just the repair or replacement cost of your equipment. Additional coverage may be needed to include indirect losses. Extra Expense coverage can be added to pay for the costs incurred for temporary repairs and increased expenses necessary to maintain your standard of living in the event of a breakdown. Machinery Breakdown policies, through providers like Chubb, include coverage for the mechanical breakdown on one policy with one limit and one deductible to supplement your homeowner’s policy. With these policies, your home and contents are protected against:
- Losses due to steam explosion, mechanical breakdown or electric arcing
- Losses to property for those in your care, custody or control
- Repair or replacement costs for damaged property
- Defense against a claim or suit alleging liability under the policy
Don’t risk losing your vital home machines! Contact us today to find out how you can help protect your home and possessions against loss from mechanical failure with Machinery Breakdown insurance.