The sound of the internet dial-up modem from the early 1990’s is unmistakable. The “handshake sound”, was the result of two modems talking to each other over a telephone line. Fast forward to 2001, when the first cell phone with the ability to access the internet was debuted. The technology seemed so advanced at the time, with only 10 years prior having to wait patiently for the sound of the internet connecting over dial-up.
Today, our homes are filled with sophisticated devices and systems designed to make life more convenient, efficient, and enjoyable. From smart refrigerators, to energy-efficient HVAC systems, these technological wonders have become integral in our daily lives. To communicate with our smart equipment, we use highspeed fiberoptic or coaxial cable internet. However, what happens when these essential systems suddenly breakdown? The solution is clear: you need equipment breakdown insurance & service line coverage.
At Ovation Home Insurance Exchange, we recognize the importance of safeguarding your home’s valuable equipment. Here's why equipment breakdown insurance and service line coverage is a crucial addition to your homeowner's policy.
Protection from High Repair Costs
Modern appliances and home systems are technologically advanced, and use several different home utility lines which are often expensive to repair. Equipment breakdown insurance and service line coverage shields you from the significant financial burden of unexpected repairs. Without this coverage, you could face hefty out of pocket expenses when critical systems fail.
Equipment breakdown insurance typically covers 3 main categories of home equipment.
- Major Appliances: Refrigerators, stoves, dishwashers, microwaves, and more.
- Electronics: Televisions, sound systems, computers, and gaming setups.
- Home Systems: HVAC units, electrical panels, and security or fire alarm systems.
Imagine your air conditioning system breaks down during a peak 95° day. Repairing or replacing your A/C unit can cost upwards of $10,000. With equipment breakdown insurance, the costs associated with the mechanical, electrical, or pressure system failures - provided they're not due to neglect, wear and tear, or external damage – are covered, easing your financial strain.
Service line coverage typically covers:
- Repairs to water, sewer, natural gas, electric, cable and internet lines.
- Excavation costs to access damaged lines.
- Landscaping expenses to beautify your land after excavation efforts
Tree roots grow horizontally and not very far below the soil surface. Tree roots spread out to support the tree’s canopy, sometimes infiltrating and damaging water pipes as well as other underground municipal or commercial utility lines. With service line coverage, the costs associated with repair, excavation, and replacement landscaping are covered, loosening the pressure on your budget.
Enhancing Your Homeowners Policy
Many homeowners assume their standard insurance policy is comprehensive, meaning it covers everything in your home, but usually it only covers loss resulting from certain perils, including fire, theft, falling objects and accidental damage. Additional coverages like equipment breakdown insurance & service line provides essential protection for specific loss. This add-on ensures your policy works harder for you by addressing gaps in standard coverage.
For instance, when your refrigerator's cooling system fails due to a burned-out compressor, potentially spoiling food inside, standard homeowners insurance won't help. However, with equipment breakdown insurance and service line, you're covered for repairs or replacement, giving you peace of mind and saving you from unexpected expenses.
Comprehensive Coverage for Modern Homes
Equipment breakdown insurance & service line coverage provides broad protection for a wide range of home systems and appliances. Whether it's your smart home system malfunctioning or your high efficiency washing machine failing, this insurance ensures you're covered for repair or replacement costs when equipment breaks down due to insured causes.
In the event a power outage damages your computer, television, home entertainment system and other electronic equipment in your home, replacement or repair of the damaged products may be covered under equipment breakdown insurance & service line coverage.
Additional Coverage: Service Line Protection
Another valuable option when purchasing equipment breakdown insurance is service line coverage. This add-on enhancement protects against damage to underground utility lines on your property caused by leaks, breaks, corrosion, tree roots, and more.
For example, an oak tree on your property spread roots damaging an underground water line leading to a significant leak. Even though the water and utility lines in the public road are the responsibility of the municipality, as the homeowner, you are responsible for the equipment on your property. Service line coverage not only covers excavation and repair costs but also pays for backfill and landscaping to restore your property’s appearance.
Why You Need Equipment Breakdown Insurance and Service Line Coverage
In today's tech-driven world, protecting your home equipment is more important than ever. Equipment breakdown insurance offers comprehensive protection for critical systems and appliances, saving you from unexpected repair bills and ensuring your home functions smoothly. With the additional add-on of service line coverage to equipment breakdown insurance, you can cover the costs of repairs or replacements of the many utility service lines running into your property.
Adding this coverage to your Ovation Home Insurance Exchange policy is simple. Contact your agent today to learn more or visit our website to request an online quote. Don't wait for an unexpected failure to realize the value of this protection.
Equipment Breakdown and Service Line Coverage- Peace of Mind for the Unexpected
Life is unpredictable but with Ovation Home Insurance Exchange you can face the unexpected with confidence. Our equipment breakdown and service line coverage options are designed to support you and your family on the road to recovery after a loss. Safeguard your home and enjoy peace of mind with our comprehensive coverage options.