Home Page Home Page Newsletter Contact Us Get A Quote Life Insurance Employee Benefits Business Insurance Personal Insurance
Get A Quote

 

 

            Business property insurance may cover a wide range of perils, but it does not pay for equipment failure and any resulting losses. Equipment and mechanical breakdowns have been excluded by commercial property policies since the time when steam boiler explosions were commonplace. However, after eliminating these risks from the standard policies, the industry created a separate product to address them. Today, “boiler and machinery coverage” is often referred to as machinery and equipment insurance, and it includes a wide range of devices. Most policies cover the cost of repair or replacement of equipment that breaks down suddenly and accidentally. They may also cover loss of income from property damage liability defense costs, as well as consequential damages.

NOTE: Business owners who own their buildings need at least boiler and machinery insurance for air-conditioning and heating systems. Business owners who rent are responsible for their equipment, although the landlord may cover the building systems.

Posted 1:51 PM  View Comments

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
JED Insurance and Financial Service Agency, Inc I 30 Mechanic St. Ste 5 I Foxborough, MA 02035                                                 Powered by Insurance Website Builder
                                                                                                                                                
Privacy Policy  &  Terms of Use     

 

© Copyright 2013 J.E.D. Insurance and Financial Services, Inc. All Rights Reserved.

 

 

Home Page About Us Our Services Newsletter Get A Quote Contact Us Home Page Like us on Facebook LinkedIn