Running a business that requires the use of heavy equipment can result in a variety of risks in Matthews, NC. Although the risks can range from injuries and accidents, a problem that you may overlook when seeking an insurance policy is the chance that the equipment might break down. Commercial insurance may or may not offer some protection against broken down equipment.
Amount of Coverage
In general, it is unlikely that your basic commercial insurance policy will offer protection against broken down equipment. Since the problem may stem from normal wear and tear, the amount of protection can vary.
Some insurers may offer protection under the policy, but the amount of coverage and the situations that are covered may be limited. For example, you may be covered if the equipment breaks down due to a situation that does not relate to normal wear and tear.
Covering the Equipment
Even though your basic policy may not have the coverage that you may need, it is possible to cover the equipment with an insurance policy or additional coverage for the equipment. Some insurers do offer plans and additional protection to cover the loss of equipment due to a break down, regardless of the situation.
The coverage that may be available and the plans it may apply to can vary, so it may be necessary to discuss your options with an agent or a representative of your insurer before you determine that the coverage will not apply.
Equipment is an important part of many businesses, so you may need to purchase additional protection to ensure that you do not face large losses if your equipment breaks down in the future. Contact us to talk to an agent for more details about your options.