Chances are, your business relies on a variety of equipment to keep running. Have you taken measures in case, say, the air conditioning stopped in the middle of summer, or the heating shut off during a deep freeze? These kinds of issues can be caused by hazards like poor maintenance, power surges, and human error. Common types of systems that can suffer from breakdowns include mechanical, electrical, computer, HVAC, refrigeration, and boiler systems.
Businesses that are often exposed to these kinds of breakdowns include manufacturing, food service, landscaping, and, in the case of computer breakdown, any business that relies on such a system.
These issues are generally excluded by the standard Commercial Property Policy. The Business Owners Policy (BOP) offers limited coverage for equipment breakdown, excluding damage to boilers and pipes caused by internal malfunctions, along with business income losses caused by such an incident. The BOP also generally excludes damage to systems by electrical activity, such as a power surge.
The team at Longen Group, LLC can help you find a specialized Systems Breakdown Policy (also called Equipment or Mechanical Breakdown), that will be right for the needs of your business. We will help you add a policy like this so you have the coverage you need to protect yourself from expensive repair costs.
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