Coverages

Overview

Why is Equipment Breakdown Essential?

Equipment risks are unique because they evolve with advances in engineering and technology. Rising energy costs have led many businesses to acquire new high-efficiency equipment or install on-site power generators. And today, almost all equipment contains sensitive technology. The rapid evolution of equipment risk makes properly designed equipment breakdown insurance indispensable.

Because of these increased risks and the reliance most businesses have on equipment to generate income, we think nowadays the coverage is as important as the others you have. 

Coverage offerings include:

• Direct property damage – cost to repair or replace damaged equipment
• Loss of business income and extra expense
• Service interruption resulting in loss of business income, extra expense, or spoilage
• Loss of business income from dependent properties
• Ordinance or law

More than a policy:

Nationwide worked with Hartford Steam Boiler (HSB) on equipment breakdown coverage that provides more than coverage for just boilers and pressure vessels. It handles air conditioning and refrigeration systems, computers and communications equipment, and mechanical equipment. Included with the coverages are:

• Jurisdictional inspections of boilers and pressure vessels, required by virtually all states and municipalities, are a built-in benefit of equipment breakdown coverage 
• Risk management tools and services designed to help business owners improve equipment operation, maintenance and energy efficiency. These tools and services help to increase equipment reliability and decrease operating costs
• Claim service to help clients more swiftly restore business operations following an equipment breakdown