THURSDAY, JANUARY 18, 2024
What’s the one thing that nearly all businesses have in common? They all rely on computers, phone systems, heating/cooling systems, break room appliances, security alarms and various other electronic devices that contribute to daily operations and employee comfort. Many business owners think that these electronics are covered under their commercial property insurance, and in some cases that’s true. But what happens when it isn’t?
Your property insurance covers damage due to external forces. So if a fire or severe thunderstorm—or even a petty thief—was the source of damages or losses or electronic equipment, it would probably be covered. But damage due to internal incidents are often excluded. This means that a failed motor or case of electrical arcing would likely fall on you to pay for.
But don’t lose hope yet! Just because these incidents aren’t covered under property insurance doesn’t mean that you can’t cover them. That’s where equipment breakdown insurance comes into play. This valuable coverage protects your electronic and mechanical equipment—most pieces of hardware are included—from a wide variety of damages. Some equipment breakdown insurance policies even cover an income loss that occurs because failed equipment interrupted business operations.
Interested in learning more about how equipment breakdown insurance can protect your business? Speak with your independent insurance agent about your options today.
We’ve help you get started. Call Texas Risk Solutions at 210-426-3053 for more information on business insurance.
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