July 18, 2022

Equipment Breakdown Coverage vs. Wear and Tear

Basically, it’s like when your shoes are worn out you get new shoes, or taps on your heels or soles on your boots.

When your tires wear out, you know the shoes on your car?! They are not covered on your insurance policy. Now, if you have a blow out and damage occurs that is covered under comprehensive coverage less your deductible.

Low tire tread, worn out HVAC units, old roofs, water pumps, plumbing, electrical wiring, these are all wear and tear, which is excluded.

Maintenance is a big thing and so is a home warranty, but insurance is there only for sudden catastrophe.

Warranty that you can buy on anything is a good idea, because these will usually cover what isn’t a catastrophe like wear and tear.

Risk management is what we do, to protect all of your things when the unexpected happens.

Equipment breakdown only covers sudden and accidental losses NOT occurred from wear and tear over a period of time.

We add equipment breakdown to every policy we can.

Not all carriers offer this coverage. So as long as you have this and it’s suddenly and accidental or a catastrophe, you could have these coverages under your insurance policy.

An example would be your refrigerator gets a power surge and it dies from the electrical side, this is covered.

If your refrigerator is just old and dies this could be under the warranty side.

We also write home warranties as well!!!

These types of losses never happen at a good time so make sure your covered ahead of time.

Always stay safe and stay insured!!

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