Commercial Products:   - Marinas   - Boat Dealers   - Yacht Clubs   - Boat Builders   Personal Products:   - Boats   - Yachts   - Mega Yachts			Seven reasons why you need equipment breakdown insurance 1. Equipment You Depend On Marinas and yacht clubs depend on environmental heating and cooling systems and electrical equipment. However, this equipment is subject to sudden and accidental breakdown caused by: Power line surges Improper start-up Insulation failure 2. Equipment Breakdown Insurance Covers More Than Just Repair Costs Equipment Breakdown Insurance helps protect you from the costs associated with losses to your facility's equipment. It pays for: Cost to repair or replace equipment damaged by break-down Other costs or expenses to limit the loss or speed business restoration Business income loss (when coverage is selected) 3. Protection For Many Types Of Equipment Equipment Breakdown Insurance covers many types of equipment used in this industry: Modern office equipment like phone systems, fax machines and copiers Berthing and repair hoists and equipment Air conditioning systems including fans and blowers Electrical equipment supplying power to the facility Refrigeration systems used for food service 4. Mandatory Inspections Most states and many local governments require that boilers or pressure vessels be inspected by commissioned inspectors. With HSB providing these inspection services, you can avoid local inspection fees in a majority of jurisdictions. Only the certificate fee would be your responsibility. 5. Endorsed On To Your AIG Marina Division Property Insurance Property insurance does cover equipment for standard perils, such as fire. But property insurance without Equipment Breakdown coverage included doesn't cover the causes of equipment failure. You need to add this important coverage onto your policy for hazards such as: Short circuits Electrical arcing Motor burnout Mechanical breakdown and others Boiler damage 6. Losses Can Be Costly When equipment fails, it often leads to a variety of unanticipated expenses. To assess the value of Equipment Breakdown coverage, consider the following costs: Investment in berthing and repair equipment, heating and cooling machinery and electrical equipment Income for the period you have to shut or slow down because a breakdown interrupts business Extra expenses you may incur to rent spares or rush repairs It adds up, doesn't it? Considering what's at stake, every business needs Equipment Breakdown Coverage. 7. Typical Losses Equipment breakdown is not infrequent. The following are some examples of losses experienced by businesses like yours: A fault occurred in a 480-V circuit breaker, due to a single-phase condition. Current surge destroyed the circuit breaker and damaged cables in proximity to the breaker. Direct Loss: $26,650 An air unit's compressor was damaged when the valves and pistons suffered a breakdown. The compressor had to be replaced. Direct Loss: $ 6,921 An electrical surge damaged the control unit of the phone system. Direct Loss: $ 6,040