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What Is Home Equipment Breakdown Coverage?

Published on July 3, 2018   Insurance Info Claim

While it is impossible to provide coverage for everything, more and more new coverages are becoming available. Home equipment breakdown is a relatively new coverage that is becoming common amongst multiple insurance companies. This provides you with peace of mind coverage for your homes equipment and appliances.

What’s protected with this coverage?

While exact coverage can vary company to company, these items are generally covered by home equipment breakdown coverage:

Heating systems - Furnaces, heat pumps, hot water heaters, radiant flooring
Electrical - Service panels
Water - Sump pumps, well pumps, water purification and filtration units
Air - Central air conditioning units
Security - Home security systems

This coverage also includes protection for kitchen & laundry appliances, home entertainment equipment, computers, portable generators and more.

Some of these items can be very expensive to replace and when they suddenly breakdown it can be difficult to arrange the replacement of the items. This coverage will protect these items and you will simply be responsible for your deductible.

Claims Example

It’s a hot summer day and you realize that your air conditioner isn’t providing your home with cold air. You end up calling a furnace and air company and its determined that your air conditioners compressor motor has burnt out and can’t be repaired. The service tech advised that you would need to replace your whole air conditioner unit, your equipment breakdown coverage will cover the cost, less your deductible.

If you would like more information about this coverage or would like to add this coverage to your policy please reach out to one of our locations.

SGI Canada
Red River Mutual

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