Massachusetts Equipment Breakdown Insurance

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Written by Candace Jenkins
Written by Candace Jenkins

Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for on a continuous basis and is here with the facts about all your insurance inquiries.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

Massachusetts Equipment Breakdown Insurance

In 2020, Massachusetts had over 808,147,000 property insurance claims alone that were paid. If you're adequately prepared for a loss, you can save thousands of dollars. Business equipment breakdown insurance could help you stay in operation during a claim.

An independent insurance agent will find the best coverage and premium options for your needs. They have several carriers that they work with so that you can save. Connect with a local expert to get started today.

What Is Equipment Breakdown Insurance?

In Massachusetts, equipment breakdown insurance can help cover a variety of losses. This policy is not the same as your business property coverage. Both are necessary to have the right protection.

If you're a small business, you can't afford to lose time or money. With the proper coverage, you can save yourself the hassle and let the insurance companies handle the claim. Equipment breakdown coverage will keep your home or business running.

What Does Equipment Breakdown Insurance Cover?

The majority of Massachusetts small businesses will have some property exposure. If you have the equipment, you'll want protection for all that could go wrong. It will provide insurance for the following types of equipment and damage.

  1. Power surges
  2. Electrical shorts
  3. Mechanical breakdowns
  4. Motor burnout
  5. Operator error

Equipment can typically include the following items

  • Boilers
  • Air conditioners
  • Freezers
  • Refrigerators
  • Heavy machinery
  • Contractors equipment

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Equipment Breakdown Coverage under Home Insurance

The average homeowners premium in Massachusetts is $1,488 annually. Your home policy will typically have some equipment breakdown coverage. If it is automatically included or not will depend on your carrier.

The amount of protection you'll want for equipment breakdown depends on the value of your property. Your homeowners insurance will likely have a set limit of around $10,000. If you want anything more, you'll have to adjust this figure.

Equipment Breakdown Coverage under Commercial Insurance

In 2019, Massachusetts had $8,060,079,000 in commercial insurance claims paid alone. Part of those losses was property and equipment-related. The cost to replace your equipment will determine the premium.

Your business owners policy or package insurance will have a way to include equipment breakdown coverage. The majority of the time it is a preset blanket amount that can be adjusted. Equipment breakdown can help a business pay for the following losses.

  • The repair or replacement of damaged equipment
  • Lost income resulting from damaged equipment
  • Spoiled inventory like food or other products
  • Additional expenses accumulated as a result of damaged equipment

Does Business Property Insurance Cover Equipment Breakdown

In Massachusetts, your property will have several exposures. Your business property insurance will not have the same coverage as equipment breakdown. Both are necessary to be fully protected. Business property insurance covers the following items.

  • Fire
  • Theft
  • Natural disasters

It is essential to know what your commercial insurance excludes as well. Business property insurance will not cover power surges, electrical shorts, mechanical breakdowns, motor burnout, and operator error. You'll want to get specific equipment and equipment breakdown insurance to have sufficient coverage.

How to Connect with a Massachusetts Independent Agent

When you're shopping for insurance in Massachusetts, you'll have a lot of choices. Whether you're insuring your business or your home, there are many coverages you'll need to take into account. Equipment breakdown insurance is one of them. 

Fortunately, an independent insurance agent can help quote your policies for a fair price. They work with several carriers so that you get the best coverage in town. Connect with a local expert on to get started.

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