A human approach to insurance

Equipment Breakdown Insurance

Equipment breakdown insurance helps your business cover the repair or replacement of essential equipment. This can be anything from computers to machinery – whatever is essential to the operation of your company. This protection is great for businesses reliant on equipment to carry out their work. Repairing or replacing equipment that breaks down can be timely and expensive – including the cost of having to cease or reduce your business operations.

Equipment breakdown insurance is also available for home, condo and renter’s insurance. It can help cover repairs and replacements of your home’s appliances and systems.

Luckily, equipment breakdown insurance can help reduce the financial burden if your essential equipment fails. Work with Rogers and our experienced and professional equipment breakdown insurance brokers to protect your business.

Contact us today for an equipment breakdown insurance quote or read on to learn about this coverage.

What does equipment breakdown insurance cover?

For businesses, equipment breakdown insurance helps cover repairs or replacement to your equipment caused by a mechanical or electrical failure. It also often includes business interruption coverage, which helps cover your lost income while you wait. It can also include coverage for spoilt inventory.

For homes, equipment breakdown insurance helps cover repairs or replacement to your home appliances and systems caused by mechanical or electrical breakdown.

Equipment breakdown insurance policies offer coverage for the following categories of equipment and machinery:

  • Electrical equipment, including electrical panels, cables and transformers.
  • Air conditioners
  • Heating, refrigeration, and ventilation systems.
  • Mechanical equipment, including machinery like engines, motors, elevators, water pumps, generators and other manufacturing or specialized production equipment.
  • Alternative and/or renewable energy systems.
  • Production systems.
  • Communication systems including computer systems, security systems, voice mail and phone systems, and fire alarm systems.
  • Pressure equipment and boilers.

Each equipment breakdown insurance policy will vary concerning what can be covered. Your equipment breakdown insurance broker can help you find a policy that works for your needs.

Let’s use the example of a restaurant that served a large number of customers each day. The power goes out for over a day, and you’re unable to operate. When it turns back on, there’s a power surge that wrecks your refrigeration system. Because of this, you have no way to refrigerate your essentials and have also lost all the existing inventory. You can’t operate until you get this system back up and running!

Equipment breakdown insurance could help you cover:

  • The spoilt food
  • Repair or replacement costs for the refrigeration system and any other insured equipment that had been damaged
  • Lost income during the time the refrigeration system was being repaired

Another example could be with your home. Imagine – it’s the middle of summer and your air conditioner is working overtime. Unfortunately, it breaks down and you know you’d struggle to afford the expense of a new unit. Luckily, your equipment breakdown insurance helps you cover the costs of replacing this essential system during the heat of summer.

Talk to one of our equipment breakdown insurance brokers to discuss your coverage options and what’s available for your business or home.

What’s the difference between equipment breakdown insurance and property damage coverage?

Property damage insurance covers repairs and replacement of your personal or business property, but only if it’s damaged or destroyed by certain things such as fire. It doesn’t cover breakdowns.

Equipment breakdown insurance specifically protects you if the equipment suddenly and accidentally breaks down thanks to:

  • Pressure buildup or explosion
  • Mechanical breakdown, bursting, or rupture
  • Electrical arcing or surges

The above would not generally be covered by property insurance. Generally, you specify what equipment you want to be covered by this special protection.

Equipment Breakdown Insurance with Rogers

Rogers Insurance has been a trusted equipment breakdown insurance broker for decades. Since 1977, we’ve been helping business and homeowners protect what matters most. As a leading independent insurance brokerage, we have access to a large number of markets which means we can offer you truly competitive equipment breakdown insurance quotes and a choice in your coverage. We work for you – not an insurance company.

Our equipment insurance brokers are experienced and professional. We believe in a hands-on, human-first approach to insurance and you’ll notice a difference. We can help you determine your insurance needs, take care of the research and price shopping for you, balance your coverage with your budget, and advise on the best value for your money. We are your insurance and risk management resource, as well as your claims advocate.

Learn more or request an equipment breakdown insurance quote online, by phone, or in person at one of our locations.

Need a Quote? One of our signature service brokers will contact you directly when it's best for you. We understand you're busy; if you give us your information, we'll contact you with a specialty insurance quote.
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When Rogers’ Bob Shaw sat down with the CFO of the company to discuss insurance options, the client mentioned an uncovered claim at their Montreal-based facility that was denied by their insurer and unchallenged by their former broker. Before being appointed, Bob, a former claims specialist, offered to pursue the matter (a settlement) on behalf of the client.

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