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Comprehensive Equipment Breakdown Insurance Provided by Marlow Campbell Insurance Group

Protect Your Business in North Carolina with Equipment Breakdown Insurance

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Equipment Breakdown Insurance Provided By Our Agency

Equipment Breakdown Insurance protects your business from damage to equipment and machinery due to external risks like fire and flood. However, it does not cover issues such as wiring problems, short circuits, or mechanical failures. These types of malfunctions can halt your operations and result in significant repair or replacement costs.

What is Equipment Breakdown Insurance?

An Equipment Breakdown Insurance policy covers various equipment used in your business, including elevators and heating systems, not just machinery used in manufacturing. This insurance typically covers physical damage to computer hardware, but not software failures or malware.

Manufacturer warranties might cover some repair costs or offer replacements, but they are usually not as comprehensive as equipment breakdown insurance. For example, warranties may not cover accidental damage from human errors like overloading electrical circuits, while equipment breakdown insurance would.

Coverage Provided by Equipment Breakdown Insurance

Equipment Breakdown Insurance can help cover the following:

  • Spoiled inventory
  • Repair or replacement costs for damaged equipment, including labor
  • Necessary expenses incurred during the restoration period
  • Lost income

Types of Equipment Covered

  • Electrical: Includes electrical panels, transformers, and cables
  • Computers and Communications: Covers phones, voicemail, security, and fire alarm systems
  • Mechanical: Encompasses motors, engines, generators, elevators, water pumps, and specialized manufacturing equipment
  • Air Conditioners and Refrigeration Systems
  • Boilers and Pressure Equipment

Examples of Coverage

Even if you do not own your building, it is wise to have equipment breakdown insurance, mainly if your business depends on the proper functioning of equipment managed by a critical provider, like a local power company.

For instance, a power surge could disrupt your operations if your pizza shop in North Carolina relies on walk-in customers and online orders. Your business will suffer if a power outage prevents you from processing online orders, maintaining proper temperatures, preparing, cooking, serving, and selling food. Additionally, a prolonged power outage could lead to food spoilage.

In this scenario, equipment breakdown insurance can help cover the following:

  • Labor and material costs to repair and replace damaged equipment
  • Replacement costs for spoiled food
  • Repair costs for a walk-in refrigerator and replacement of a computer damaged by a power surge
  • Lost business income during the power outage

If equipment breakdowns could impact your business in North Carolina, this optional coverage might be a valuable addition. The team at Marlow Campbell Insurance Group can help you understand your policy's coverage and determine if your business would benefit from additional protections, such as equipment breakdown insurance.

Already have Equipment Breakdown Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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