Calling all business owners! If you’re in the 21st century, you depend on energy-related equipment serving you well.
What happens when things don’t quite go according to plan, as they often do in life?
Well, if your computers, machines, boilers, air conditioning units, ovens, furnaces, elevators, hoists and cranes and so many, many other pieces of equipment fail, your business could fail.
But hold on to your hat!
Equipment breakdown insurance can protect you and your business from events. Read on for some abridged episodes that were sent to insurance claims departments.
Equipment Breakdown Insurance Genuine Case Scenarios
• A power surge caused damage to the control board of an espresso machine. It also caused damage to the thermostat and compressor of the air conditioning system. In addition, due to the company’s food cooler compressor, the food that was for sale suffered deterioration.
• Blackouts are no big deal, or so some of us tend to think. In this case, a blackout caused by a direct lightning strike at the utility substation was followed by a power surge that led to the premature demise of a commercial air conditioning unit.
• Due to a power surge, a convenience store’s refrigeration system was so damaged that it had to be replaced. Luckily, the food inside also suffered spoilage losses.
• An intense ice storm wreaked havoc on the power line connected to a restaurant. Losses included an electric skillet, a wine cooler, and an ice machine.
• Business cannot continue without a proper phone system. One company learned this the hard way when a power surge damaged theirs and left them without communication for forty-eight hours.
• A grocery store experienced a power outage and then the resulting power surge caused electrical damage to the cash register and freezer.
• When an ice cream franchise had a power outage, it took the utility company several days to fix the problem. The ice cream melted and so did the income from the business.
• A printing company failed to maintain your printer properly. The gap protector came loose and got stuck between the machine drum and the imaging unit, causing the printer to fail.
• A company’s furnace motor failed, creating optimal conditions for water pipes to freeze and burst. When that happened, another oven’s breaker tripped, resulting in additional heat loss.
• Seizure of condenser fan caused freezer compressor to burn out, followed by food damage.
• An overheated and cracked boiler as a result of low water level. The resulting heat loss caused the store owner to close his store for an entire business day.
• A church center’s boiler and steam pipe cracked and released steam that damaged the church organ, choir members’ robes, and the microphone system.
All of the above claim examples were covered by equipment breakdown insurance.
If something happens to your business equipment, is it covered?