California Mutual offers a comprehensive program for Equipment Breakdown.
WHY EQUIPMENT BREAKDOWN INSURANCE? The world is very different today:
• Elevators Talk
• Machines Think
• Building Turn Themselves on and Off
• Computers Control Equipment
• Equipment is Interconnected and Interdependent
“Property” policies exclude coverage for Property Damage and Business Interruption for Mechanical Breakdown.
Covered Equipment
All types of computers
Phone Systems
Retail Scanners
Computer Controlled Equipment
Hand Held Order Machines
Automated Manufacturing Equipment
Boilers & Pressure Vessels
Diagnostic Equipment
Electronic Equipment
Air conditional and refrigeration equipment
Many other types of high tech equipment
So why add Equipment Breakdown coverage?
Many businesses tend to overlook catastrophes that they are not financially prepared for. Insured’s need to know that without this coverage they can be victims of non-covered comprehensive breakdowns. Equipment breakdown coverage will cover cost of repair or replacement of equipment that stops working suddenly and accidentally and will also cover loss of income due to the breakdown.
Equipment Breakdown is a fraction of the cost of a property insurance program and is one of the most important coverages business owners should purchase.
Comprehensive Breakdown Coverages
Property Damage ~ should a breakdown cause damage to your covered property
Business Interruption ~ should a breakdown cause a decrease to your net income
Extra Expense ~ should you incur additional cost to operate your business following a breakdown
Spoilage ~ should a breakdown damage raw materials, property in process or finished products
Utility Interruption ~ should you experience a loss caused by a breakdown at a utility
Brands & Labels ~ should merchandise be damaged
Contingent Time Element ~ to protect against loss of sale caused by other non-owned businesses
Data/Media ~ should either be lost or corrupted as a direct loss of a breakdown
Errors in Description ~ should an unintentional error occur which interferes with the payment of a loss
Expediting ~ to expedite the permanent repairs or replacement of your damage property
Newly Acquired ~ to automatically provide coverage for new locations until they are reported
Ordinance or Law ~ to provide protection against increased costs due to local ordinances and laws
Ammonia Contamination ~ should covered property be contaminated by ammonia
Hazardous Substance ~ should covered property be contaminated by hazardous substances
Water Damage ~ should covered property be damage by water
Next Generation Cover ~ replaces unrepairable equipment with state-of-the-art technology at up to 125 percent of replacement value
Selling Price Valuation ~ for all property held by an insured for sale
