Los Angeles, California (pressreleasepower) December 26, 2019 - MFE, a business insurance broker, recently created a blog that explains "what does equipment breakdown insurance cover."
If your business requires any kind of mechanical gear to operate, this
type of insurance is essential to protecting your investments.
Equipment
breakdown insurance is a type of business insurance that covers the
cost to repair broken equipment, as well as the loss of income and
inventory as a result. For example, if you operate a laundromat and one
of your machines stops working, equipment breakdown insurance will pay
for the cost of a new machine and reimburse you for any income you lost
as a result of the breakdown. It can also pay for income lost as the
result of a power outage and subsequent slowdown of business if you're
unable to process payments for an extended period of time. Commercial
business owners in a range of industries, including manufacturing,
client services, and technology, can avoid paying for repairs out of
their own pockets and maintain their sales projections thanks to
equipment breakdown insurance.
There are five categories of
equipment that a breakdown insurance policy covers. These consist of
mechanical, electrical, computers and communications, HVAC and
refrigeration systems and boilers and pressure equipment. For each of
these categories, insurance will pay for the cost to repair or replace
the item, including time and labor; income lost; spoiled products,
particularly food and other perishables; and expenses incurred during
the restoration period. Equipment breakdown insurance does not cover
software or damage caused by external forces, such as a fire. It also
only pays for expenses up to your policy limit, so speak to an insurance
broker to ensure that you're properly covered for major incidents.
Contact
MFE Insurance for more information about equipment breakdown insurance
or to inquire about the agency's comprehensive business insurance
coverage, including worker's compensation, errors and omissions, and
general liability insurance. MFE specializes in providing customized
insurance packages to restaurants, nightclubs, film production
companies, and other businesses within the entertainment space, and its
experienced insurance agents can assist you in choosing the right
policies for you based on your equipment, number of employees, and type
of business. The brokerage can be contacted at 213-266-7990 or online at
https://www.mfeinsurance.com. MFE is headquartered in Los Angeles and serves clients across the country.
###
| Company Name | Contact Person | Contact Number | Email Id | Website | Address |
|---|---|---|---|---|---|
| MFE Insurance | -1 | mfeinsuranceca@gmail.com | https://www.mfeinsurance.com |
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