We are in an era where almost everything has some kind of mechanics or technology in it. Even some surfboards now come with a motor (I think that is kind of missing the point on “catching a wave”). There is more technology in your smart-watch then there was in most computers 5 years ago. It is crazy how rapidly things are evolving. This is also happening in your house more and more. These “Smart Homes” come with automated blinds & lights, Smart TV’s, Nest Thermostats, etc.
With all this technology and equipment in your house, you need to make sure you have done your best to properly insure this equipment in case something awful happens. Most insurance policies include coverage for the major disasters: Fire, Theft, Hail, Wind, Smoke, etc, however, they exclude mechanical failure. So if your furnace suddenly decides it no longer wants to live, you would be responsible to repair/replace it unless you had some kind of warranty in place.
Well now there is an insurance product available that fills this hole. No warranty on your furnace or water heater anymore? No problem. Most insurance companies now offer a coverage called “Home Systems Protection” or “Equipment Breakdown” coverage. These coverages offer protection to any sudden and accidental loss to mechanical and electrical components and appliances in your house. There is not an age restriction on your appliances for this to apply. Items that would be covered include:
- boilers, furnaces and heat pumps
- hot water heaters and radiant floor heating
- central air conditioning
- water purification and filtration
- ventilating systems
- well pumps, installed sump pumps
- home security monitoring and control devices
- pool, spa or sauna equipment
- electrical service panels
- solar/wind/geothermal heating or energy
- kitchen and laundry appliances
- home entertainment equipment
- computers and wireless devices
- power tools and shop equipment
- portable generators and sump pumps
- … and more
This coverage is fairly inexpensive and can potentially save you a ton of money if something goes wrong with your equipment in your house. Please contact our office if you want to know more about this coverage or would be interested in purchasing it. We would love to help you out!