Unexpected home equipment and appliance failures can be stressful and costly, especially during peak seasons like summer in Florida. The financial burden of repairs or replacements can add up quickly. Home appliance insurance offers a solution to help you avoid these unexpected expenses and the associated stress. Welcome to the world of appliance insurance – or, as we like to call it at Ovation Home Insurance Exchange: equipment breakdown insurance.
What Is Equipment Breakdown Insurance?
Equipment breakdown insurance is specialized coverage designed to protect you from unexpected repair or replacement costs of essential home systems, appliances, and personal electronics.
This insurance product shouldn't be confused with service contracts or extended warranties. Unlike service contracts, which might only cover specific items and often come with numerous limitations, equipment breakdown insurance offers more comprehensive protections for a broader range of items under a single policy – your homeowners insurance policy. To get it, you’d simply ask your insurance agent to add equipment breakdown coverage to your current homeowners policy.
What Does It Cover?
Ovation’s equipment breakdown appliance insurance covers the repair or replacement of major home appliances, home systems, and personal electronics. This includes refrigerators, ovens, washing machines, dryers, air conditioning units, hot water heaters, and even laptops, smartphones, and gaming systems. It protects against sudden and accidental damage caused by electrical or mechanical failures, power surges, and other unexpected breakdowns. However, it’s important to note normal wear and tear (age- and use-related deterioration) is not covered by this insurance.
Benefits to Homeowners of Insuring Major Appliances
Insuring your major appliances (and more!) with equipment breakdown coverage provides numerous benefits going beyond its repair and replacement coverage.
Peace of Mind
Knowing your expensive major appliances, home systems, and personal electronics are protected can give you peace of mind. You won't have to worry about unexpected breakdowns and the accompanying hefty repair bills.
Comprehensive Coverage
Unlike service contracts, Ovation’s appliance insurance product provides comprehensive coverage for your major home systems, appliances, and personal electronics. Best of all, it’s simply added to your existing homeowners policy, so you’ll have fewer contracts/policies to manage, along with more extensive protection.
Quick and Easy Claims
With Ovation’s appliance insurance, the claims process is straightforward and efficient. You can get your home back in working order without the delays and hassles associated with many residential service contract businesses. Plus, you can choose your service provider.
How Equipment Breakdown Insurance Saves You Money
For Florida homeowners, this type of appliance insurance can be a financial lifesaver. Here’s how:
Lower Overall Costs
Residential service contracts can be costly, with monthly or annual fees, plus a service fee each time a technician is dispatched. They also usually only cover specific items, such as appliances only or the option to add-on home systems. Rarely do service contracts include computers and the like. Equipment breakdown insurance, on the other hand, offers broader coverage – including personal electronics – under a single policy, often at a lower overall cost to you.
Avoid Multiple Service Contracts
Instead of purchasing individual service contracts for each type of home equipment you wish to protect, you can opt for our appliance insurance, which covers a full range of essential home equipment. This can result in significant savings over time.
Protection Against Power Surges
Florida is known for its frequent thunderstorms, which can lead to power surges and significant damage to home appliances and electronic equipment. Ovation’s appliance insurance covers such incidents, saving you from expensive repairs or replacements.
Practical Tips for Homeowners
Are you interested in exploring your equipment breakdown insurance options? Contact your agent to discuss the matter. You can also do the following:
- Evaluate your appliances. Take stock of your home appliances, systems, and personal electronics. Determine their age, condition, and replacement cost. This will help you understand the value of having them insured. (Note: there is no age- or use-of-life restriction on home equipment insured by our equipment breakdown coverage.)
- Compare costs. Compare the cost of our appliance insurance with a typical service contract. Factor in the potential savings based on cost, what’s covered, and what’s excluded.
- Read the fine print. Make sure to read and understand the terms of your equipment breakdown coverage. Be sure you know what’s covered, what’s not, and any applicable limitations or restrictions.
Protect Your Home, Belongings, and Household Appliances, Systems & Electronics
At Ovation Home Insurance Exchange, we understand the unique needs of Florida homeowners. Our equipment breakdown insurance is designed to provide maximum protection and peace of mind. Insuring your major appliances can save you money, reduce stress, and provide comprehensive coverage surpassing what you might expect from service contracts.
For Florida homeowners, this type of appliance insurance is especially valuable given the frequent storms and power surges in the state. To ensure your home and its systems are well-protected, contact your Ovation Home Insurance Exchange agent today or get a quote now.
With Ovation Home Insurance Exchange, you can rest easy knowing your home is in good hands. Don’t wait until your next equipment breakdown – protect your home and your wallet today.