If you own and operate a business in the food industry, you know that there is insurance coverage that can help you keep your business afloat when something goes awry. In the food industry, you need to think about your inventory and all of the supplies that can be ruined when your equipment fails. This is why equipment coverage may be something that you want to look into. InsureWise LLC is here to talk about why equipment breakdown coverage is a wise investment and can end up saving you when things go south.
What Equipment Breakdown Coverage Is and What It Covers
There are several difference insurance policies that are required for those in the food industry business. This coverage is important because it will give you coverage in the case that the expensive equipment in your business breaks down. This could cover things from refrigeration equipment to computers and HVAC units. Specifically, this refers to coverage for the equipment that is needed to keep your business running on a daily basis. While every policy is a little bit different, here is what you can expect when you have equipment breakdown coverage.
– The cost to replace your equipment like stoves, fryers and other expensive appliances.
– If the equipment breaks down and there is food spoilage, it will cover that as well.
– It covers the cost of computer and POS system replacement as well as the cost to restore all the data.
Difference Between Equipment Breakdown Coverage & Commercial Property Insurance
When you are selecting your commercial property insurance coverage, equipment breakdown coverage is something that you can include in your overall package. When you purchase general commercial property insurance, your building is covered in the case of severe weather and other damages. When the equipment in your building fails, you could be looking at a shutdown for several days to weeks while the problem is resolved. If this is the case, it is going to cost you a pretty penny in revenue. Without the right equipment breakdown coverage, you may not have the money needed to weather that storm.
What Makes Equipment Breakdown Coverage Worth It
If you have any of your major equipment breakdown and need replacing, you want to have the coverage needed to make sure you don’t have to pay for it out of pocket. When you don’t have the coverage necessary, many businesses will see themselves in a horrible financial predicament. It can often be enough to put the business under. So, when you ask the question, “Is equipment breakdown coverage worth it?” the answer is always yes.
Commercial Property Insurance Policies & More in Las Vegas, Henderson, Reno, North Las Vegas, Summerlin, Paradise, Spring Valley, Sunrise Manor, Enterprise, Sparks, Carson City & State of Nevada
If you own a restaurant or other business in the food industry, you want to make sure you have the coverage you need in the case that an emergency strikes. At InsureWise LLC, we will help you find the right policy to fit your needs. Call us today or submit this quick and easy quote form.