Our Analysis
Without equipment breakdown coverage, business owners may not be covered for unexpected problems like explosions, mechanical failures, or electrical arcing breakdowns. Check out these tips from Travelers Insurance to ensure your property and business equipment are protected.
Our Actionable Advice
What is Equipment Breakdown Coverage?
Business Equipment Coverage is a type of insurance that covers equipment that transmits, distributes, or uses mechanical and/or electrical energy. This equipment usually includes:
- Boilers and pressure vessels
- Air conditioning and refrigeration systems
- Electrical equipment, including motors, switchgears, and transformers
- Communications and data systems
What factors are driving equipment breakdown insurance?
- Aging infrastructure leads to increased breakdowns.
- Skilled labor shortage to maintain machinery and equipment.
- Supply chain pressures for components.
- Underinsurance due to rising material, technology and labor costs.
What services does Travelers Insurance provide?
- Inspecting boilers, pressure vessels and other equipment
- Investigating claims
- Conducting Risk Control surveys
- Providing other risk control services, including equipment maintenance training, exposure evaluations, special inspection reporting and distribution and contingency planning.
- Coordinating nondestructive examination and testing.
The Big Takeaway
The Whitlock Group has over 30 years of risk expertise and experience to help our business clients prepare for the unexpected. For comprehensive business insurance solutions, contact us today.
Greg Whitlock, President
GWhitlock@twgins.net
678-906-2008 ext. 1200
Cell: 404-218-8706