Mechanical Breakdown Insurance: A Must Have

By December 13, 2016 July 12th, 2019 Personal Insurance

Your home is more than just a place to hang your hat. It’s your sanctuary. It’s where you raise your family. It’s where you relax.

It’s also probably your biggest asset and is most likely filled with plenty of very expensive equipment systems. The very things that make your home so special can break down, leaving you with an inconvenience, a lack of comfort, and a big repair bill. While there isn’t much you can do about the first two things, there IS something you can do to protect yourself from the cost of equipment failures.

What is mechanical breakdown coverage?

Homeowners insurance covers the structure of your home and its contents in the case of certain circumstances such as fire, theft, vandalism, windstorms, hail or lightning. But if one of the mechanical systems in your home just stops working, your homeowners insurance won’t pay for the repair or replacement. Mechanical breakdown coverage is an additional policy or endorsement you can buy that can cover that gap.

Which systems are covered?

Some types of household machinery that can be covered under a mechanical breakdown policy include central air conditioning systems, generators, boilers and water heaters, automatic sprinkler system controls, pool and spa equipment, furnaces, well pumps, chair lifts and elevators.

Examples of items that wouldn’t be covered include the structure or cabinet that supports the machinery, insulation materials, underground piping, kitchen and laundry appliances (such as washing machine, clothes dryer, refrigerator, dishwasher, oven, or stove), and electronic equipment (such as stereo or computer equipment).

Every policy is a little bit different, so if you have specific needs or concerns, it’s best to consult your agent for the policy that’s right for you.

Aren’t warranties enough?

You may have a warranty or a service contract on a certain piece of equipment, but over time, that warranty is going to run out. Also, warranties are generally specific in nature as to what’s covered and when it’s covered. Remembering the differences between your various warranties and their expiration dates can also be quite difficult. However, mechanical breakdown tends to offer much broader coverage.

Protection when you need it most

A mechanical breakdown policy can provide coverage for some of the most expensive items in the home, keeping you in comfort and style. A surprise malfunctioning of any of these systems can be expensive and inconvenient. Selecting a homeowners insurance policy with the right accompanying mechanical breakdown coverage will help you avoid as much discomfort as possible when things start to go awry!

All insurance policies are different. Be sure to review your insurance policy for specific information about coverages available to you. Nothing in this post is meant to suggest a guarantee of coverage.