Does Commercial Insurance Cover Business Equipment?

If you want to ensure your expensive equipment is covered if damage or disaster occurs, then you need to purchase equipment breakdown coverage in Hope Hills, NC. Traditional commercial insurance policies from Cross Creek Insurance do not cover this and if you don’t purchase this specialty type of insurance, you may have no recourse if a breakdown does occur, besides paying for repairs or replacing the item out of your own pocket. 

How Does Equipment Damage Occur? 

There are several ways that your equipment may be damaged, resulting in a loss of productivity and profits, which include:

  • Power surges
  • Short circuits
  • Employee error

What will Equipment Breakdown Insurance Cover?  

This type of insurance policy is also referred to as “boiler and machinery” policies in Hope Hull NC. When you purchase this type of policy, you will be protected against breakdowns that are the result of power surges, boiler malfunction, motor burnout and even operator error. 

This type of policy will also cover all types of equipment – both electrical and mechanical, including boilers, refrigeration systems, HVAC systems, communication equipment and more. The policy will also include coverage for any new technology you have invested in. 

Purchasing the Right Policy is Key

If you are ready to purchase this type of insurance, there are several things you should keep in mind. For example, not all policies are created equal. As a result, you need to find a reputable agent and have them help you find the right policy for your needs. 

If you are ready to purchase equipment coverage for your business, then contact the Cross Creek Insurance team serving Hope Hills, NC. You will be able to speak to professionals in the industry who can help you get the right coverage for your business and your needs. In the long run, this will pay off and ensure your business equipment is covered.