Thursday, January 25, 2007
Equipment Breakdown Insurance
Why You Need Equipment Breakdown Insurance
Your property/casualty insurance probably won't cover you in the event your high-tech equipment goes haywire.
By Cliff Ennico Entrepreneur.com
You're going along swimmingly in your business, until one day, a power surge or equipment failure wipes out your computer system. Fortunately (or so you think), you have property/casualty insurance, so you call your insurance broker and explain what happened. The broker calls you an hour later and says "Sorry, you're not covered."
After expressing your shock and dismay, you say "How can that be?" The broker explains that your property/casualty policy only covers damage to your equipment from "external" causes, such as a fire, a flood or a tree falling on your roof. The policy does not cover damage from "internal" causes such as mechanical failure, electrical short circuit or "arcing" (faulty wiring or motor burnout).
http://www.entrepreneur.com/management/insurance/typesofinsurance/article62068.html
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