If your appliances were damaged by a power surge would they be covered? Repair and replacement costs can be expensive and are not typically covered by traditional insurance policies or home warranties. We're now offering optional Equipment Breakdown Coverage that you can add to your home insurance policy for only $50 per year. To add this coverage, please contact your agent or our C.A.R.E. Team at (877) 333-9992.
Equipment Breakdown Coverage is a lot different than the coverage from warranties. Here's a quick guide you can use to compare the value of Equipment Breakdown to a product warranty.
You can add equipment breakdown coverage to your insurance policy for $50 a year.
Our endorsement provides coverage up to $100,000 for sudden electrical, mechanical, or pressure system breakdown to your home’s equipment. This includes breakdown caused by power surges, which is the cause of loss for more than 50% of insurance claims related to equipment breakdown, and costs an average of $2,300.
The typical equipment includes, but is not limited to: Washers and Dryers, Computer Equipment, Dishwashers, Freezers and Refrigerators, Garbage Disposals, Heat Pumps, Central A/C Systems, Home Security Systems, Microwaves, Ovens, Sump Pumps, Surround Sound Systems, Swimming Pool Equipment, TVs, Water Heaters, and Well Water Pumps.
Standard home insurance policies do not cover appliances or equipment breakdown, which is why we’ve invested in adding this optional coverage to our program so all of our customers have the option to add it to their policy.
Equipment Breakdown does not cover wear and tear. Wear and tear is the natural deterioration of a machine’s ability to perform its intended function which occurs as a machine reaches the end of its “life expectancy.” This is determined by the quality of installation, the level of maintenance, moisture/humidity, vibration, heat and cold, or intensity of use.
No. Extended warranties are often expensive and only cover one appliance per warranty. The Equipment Breakdown endorsement provides breakdown coverage for all of your household’s electrical equipment.
Contact your insurance agent. Your agent can easily add this valuable coverage to your current policy.
To file a claim call Customer Service at (877) 333-9992 or file a claim online in your My Security First Customer Portal.
You are responsible for paying $500 per claim. We’ll take care of the rest.
One walk through any home and it's easy to see how quickly breakdowns can break the bank. More than 50% of insurance claims related to equipment breakdown are due to power surges, which cost an average of $2,300. Adding this coverage is easy and affordable. For more information, refer to our Equipment Exposures handout.
Wear and tear refers to the progressive deterioration of your equipment’s normal functionality over the course of its lifetime. Equipment breakdown refers to a sudden loss of functionality.
Keep in mind, damage caused by wear and tear is not covered. Download the guide below to see examples of covered breakdowns and learn more about what is and is not covered.