Homes today are built with more sophisticated mechanical (e.g. heating/air-conditioning), electrical (e.g. built-in audio/visual systems), and lifestyle-related (e.g. pools, saunas) equipment than ever before. Equipment Breakdown coverage pays for certain types of sudden and accidental damage to this equipment. Covered equipment includes: central air conditioning systems, ventilating systems, emergency generators, well pumps, filtration systems for air and hot water, central vacuum systems, swimming pool filtration equipment, chair lifts and elevators. Importantly, while a common Homeowners policy deductible is $5,000, $10,000 or more, Equipment Breakdown policies typically have deductibles starting at $500.
A typical Mechanical Breakdown premium is approximately $150 for a $500,000 coverage limit with a $1,000 deductible. Please contact our office for more information on this coverage. Availability, premium and coverage limits vary by state and carrier.