Equipment breakdown insurance is smart to have – even if you don’t own your own building, and especially if the success of your business is dependent upon properly-functioning equipment owned and operated by a key supplier, such as a local power company.

For example, if you own a pizza shop that depends on online orders, as well as walk-in customers, your business will suffer if the power goes out due to a power surge. A power outage could result in loss of heat or air, the inability to process online orders, as well as the inability to prepare, cook, serve and sell food. And if the power is out long enough, your food inventory could spoil.

In this example, equipment breakdown insurance may help pay for:

• Business income you lost while the power was out
• The cost to repair your walk-in refrigerator and to replace a computer that were damaged by a power surge that occurred when the electricity was restored
• Costs associated with the time and labor to repair and replace your damaged equipment
• The cost to replace any spoiled food

If your business could suffer in the event of an equipment breakdown, this optional coverage may be a good choice. Our team can help you understand what your policy covers and whether your business may benefit from additional protections such as equipment breakdown coverage.