Business Insurance, Home Insurnace

Mechanical Breakdown – This option provides coverage for mechanical or electrical breakdown to your boilers, pressure vessels, refrigeration systems, piping, and mechanical and electrical machines or apparatus that generate, transmit or simply use mechanical or electrical power. For many businesses insurance that depend on such equipment, a breakdown means the inability to operate and loss of income.

If you run a sawmill and the saw breaks down, for example, you’re effectively out of business until the saw is repaired. Mechanical breakdown coverage might be a wise investment to cover this type of risk.

Money and Securities – You have the option to add coverage for money and securities to your policy. The insurance covers the property on the business insurance  premises, while it is at a bank or savings institution, when it is in the custody of any employee or business owner in his or her living quarters or while it is in transit between any of these places.

More Coverage for Valuable Papers and Records – As part of your loss control plan, to the extent feasible, you should keep backup copies of records in a separate location and valuable papers in a fire proof safe or a bank safety deposit box.

For some businesses, however, it may be in the nature of the business that certain valuable papers and records are vulnerable to property insurance  loss. Should you lose valuable papers and records as the result of a covered cause of loss, your basic BOP will pay the expense, up to your  insurance policy limit, to reconstruct the records.