In today's technology-driven world, our homes are packed with high-tech equipment and appliances to make our lives more comfortable, convenient, and efficient. From smart refrigerators and thermostats to advanced home security systems, these modern marvels are now essential to our daily routines. But what happens when these critical pieces of equipment break down unexpectedly? The answer is simple: you need equipment breakdown insurance.
At Florida Peninsula Insurance Company, we understand the importance of protecting your home and its valuable equipment. Here’s why equipment breakdown insurance is crucial for every Florida homeowner.
Protection Against Costly Repairs
One of the most compelling reasons to invest in equipment breakdown insurance is the protection it offers against expensive repair costs. Modern home equipment and appliances are not only sophisticated, but also pricey to repair. Without adequate coverage, a sudden breakdown can result in substantial out-of-pocket expenses.
And, when we talk about equipment breakdown insurance, we’re talking about coverage for three main categories of equipment in your home:
- Major appliances – e.g., refrigerator, stove, dishwasher, microwave
- Electronics – e.g., TV, sound system, computers, video game setup
- Home systems – e.g., AC, electrical panels, security/fire alarms
Imagine your centralized air conditioning unit fails on a hot Florida summer day. The cost to repair or replace such a unit can easily run you thousands of dollars. With equipment breakdown insurance, and as long as the failure was due to a mechanical, electrical, or pressure system breakdown – not age-related wear, neglect, or decay* – these costs will be covered, saving you unnecessary financial strain.
* Causes of equipment breakdown not covered by equipment breakdown insurance include wear and tear, neglect, decay, product defect, pest or other infestation, computer-related problems, lightning, fire, and water damage.
Get More Out of Your Homeowners Policy
Many homeowners mistakenly believe once their homeowners insurance policy is in place, it’s all the coverage they can get. Not so – there are plenty of additional protections you can add to your policy. Equipment breakdown insurance is one of these. It’s designed to help when essential home systems and appliances fail.
For example, let’s say your high-efficiency washer suddenly stops working due to an electrical malfunction unrelated to wear and tear or an equipment defect. But, because you enhanced your Florida Peninsula Insurance Company homeowners policy by adding equipment breakdown insurance, you won’t be left high and dry.
Comprehensive Protection for Multiple Home Systems
Equipment breakdown insurance provides comprehensive coverage for a wide range of home systems and appliances, including HVAC systems, kitchen appliances, home entertainment systems, and more. This broad protection ensures no matter what breaks down, you'll be covered. The insurance is designed to kick in once the insured property is sufficiently damaged to require either repair or replacement.
In the scenario where your smart home security system malfunctions, leaving your home vulnerable, equipment breakdown insurance can help cover the cost of repair or replacement, restoring your peace of mind.
Add Service Line Coverage for Essential Utilities
When you purchase equipment breakdown coverage from Florida Peninsula Insurance Company, you may also opt to include service line coverage. This additional protection covers the repair or replacement of exterior underground service lines damaged by leaks, breaks, wear and tear, corrosion, or tree root intrusion. And, by “service lines,” we mean pipes and tubing used for things like water, sewer, power, and communication.
A common way service line problems occur is when a tree root damages, for example, an underground water line on your property, causing a significant leak. Service line coverage steps in to cover the cost of excavation and repair, which can be prohibitively expensive otherwise. It can even pay for backfill and landscaping to restore the area to its original condition.
Safeguard Your Home With Equipment Breakdown Coverage
In a tech-driven world, ensuring your home equipment is protected is more important than ever. Don’t wait for an unexpected equipment failure to realize the importance of equipment breakdown insurance. This protection can be added to your Florida Peninsula Insurance Company homeowners policy at any time. Contact your agent for more information. If you’re not yet insured by us, getting started is easy. Visit our website to get an online quote now.
Equipment Breakdown & Service Line Coverage
For those unexpected moments in life, Florida Peninsula offers the coverage options to help you and your family on the road to recovery after a loss.
