How much of your home equipment contains fragile circuitry that’s highly prone to electrical and/or mechanical breakdown? If lightning strikes your home and your electrical equipment is damaged, you have coverage on a standard homeowners policy. However, if your power blinks off and on causing a power surge, there is no coverage for the damage caused and this exact situation happened to me personally. My seven year old refrigerator stopped working. It was determined that the motherboard was damaged and needed to be replaced – $800 out of pocket. About three months later, it happened again. Once again, the motherboard was damaged and it was determined that it was caused by a power surge. Since the work nor the product was defective, I was not covered by any kind of warranty. So, I had to pay $800 out of pocket again.
Believe it or not, it happened a third time. When it happened this time, my wife noticed that the refrigerator would stop working after a bad storm where our power blinked off and on frequently. I paid to put a better surge protector on my refrigerator and it hasn’t happened since. However, I spent $2,400 in a year fixing this issue and that was almost the cost of a new appliance! This type of loss is not covered by insurance as my home was never damaged by a covered loss, which would have caused the power surge. However, we now have a company that offers electrical and mechanical breakdown coverage and it only costs $32 a year to add to your homeowners policy.
For $32 a year, you can protect your appliances, home entertainment systems, computers, printers, scanners, power tools and shop equipment, air conditioning units, and the list goes on. How much of your home equipment and other contents contain fragile circuitry or is highly prone to electrical and mechanical breakdown? If you walked through your home and took notice, you will realize you have a substantial amount of equipment at risk that is not covered under your homeowners policy. Please give us a call at 678-906-2008 to learn more about this unique product.
We also have mechanical breakdown coverage for your vehicle, which is not currently being provided on your current auto policy. Give us a call to learn more.
-W. Greg Whitlock, CIC, CRM, President