What is Equipment Breakdown Coverage?
Many businesses in Massachusetts use essential equipment on a regular basis, and they’d be in trouble if this equipment broke down. Equipment breakdown coverage may provide financial assistance in the event that a covered piece of essential equipment malfunctions and brings operations to a standstill.
Equipment breakdown coverage is a specialized form of commercial insurance. Instead of protecting equipment against perils like fire, wind and theft, policies offer protection from certain possible breakdowns. Few other insurance policies offer this kind of protection.
What Businesses in Massachusetts Need an Equipment Breakdown Policy?
Many businesses in Massachusetts that rely on essential equipment could benefit from the protections afforded by an equipment breakdown policy. In short, almost any business that couldn't operate without a particular piece of equipment might want this coverage. The following are a few specific examples of businesses that may want equipment covered:
- Coffee Roasters that need a roaster for producing batches of coffee
- Retailers that need a point-of-sale system for checking out customers
- Manufacturers that have specialized production machinery
- Apartment buildings that need working furnaces and air conditioners
- Restaurants that need refrigerators, freezers, ovens and stoves
- Warehouses that use specialized inventory management systems