Calling all business owners! If you are in the 21st century, you depend on energy equipment that serves you well.
What happens when things don't go quite as planned - as often happens in life?
Well, if your computers, machinery, boiler, air conditioner, oven, stove, furnace, elevators, hoists and cranes, and so many other pieces of equipment fail, your business just might.
But hold your hat!
Equipment failure insurance can protect you and your business from events. Read on for some recap episodes that were submitted to Insurance Claims Services.
Genuine Equipment Failure Insurance Case Scenarios
* A power surge has caused damage to the control panel of an espresso machine. It also damaged the air conditioning system thermostat and compressor. Additionally, due to the company's food cooler compressor, the food items that were to be purchased were spoiled.
* Blackouts are not a problem - that's what some of us tend to think. In this case, a voltage drop caused by a direct lightning strike at the utility substation was followed by a power surge which led to the premature demise of a commercial air conditioning unit.
* Due to a sudden power surge, the refrigeration system of a mini-market suffered so much damage that it had to be replaced. Luckily, the food inside also suffered some spoilage loss.
* An intense ice storm ravaged the power line to a restaurant. Losses included an electric skillet, a wine cooler and an ice maker.
* Business cannot continue without a proper telephone system. One business learned this the hard way when a power surge damaged theirs and left them without communication for forty-eight hours.
* A grocery store suffered a power failure, then the ensuing power surge caused electrical damage to the cash register and freezer.
* When an ice cream franchise suffered a power outage, the utility took several days to resolve the issue. The ice has melted, as has corporate income.
* A printing company has failed to properly maintain its printer. The gap guard broke off and got stuck between the machine platen and the imaging unit, causing the printer to fail.
* A company's furnace motor has failed, creating optimal conditions for water pipes to freeze and burst. When this happened, another oven's circuit breaker tripped, resulting in additional heat loss.
* A seized condenser fan caused the freezer compressor to burn out, followed by food damage.
* An overheated and cracked boiler due to low water level. The resulting heat loss caused the store owner to close his store for a full business day.
* A religious center's boiler and steam pipe fitting cracked and released steam that damaged the church organ, choir member's robes, and the microphone system.
All of the above example claims have been covered by equipment failure insurance.
If something happens to your professional equipment, are you covered?
