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.
Click here to read Chubb’s helpful additional information on home appliance & equipment coverage.
