Equipment Breakdown Program

Eligible States
Alabama, California, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee, Texas

A specially discounted program for electrical and mechanical equipment breakdown coverage for apartments, homeowner associations and condominium associations. Other classes of boiler coverage are also available on a brokerage basis.

  • Eligible Classes:
    • Condominium Associations
    • Apartments
    • Homeowners Associations
    • Condominium Hotels
    • Timeshares
    • Cooperatives
    • Commercial Condominium Associations
  • Eligible States:
    • Alabama
    • California
    • Florida
    • Georgia
    • Mississippi
    • North Carolina
    • South Carolina
    • Tennessee
    • Texas
  • Features and Benefits:
    • Total Limit Per Breakdown including Property Damage and Business Income: $75,000,000 Maximum Per Building (Refer to Underwriting for higher limits)
    • Business Income "Period of Restoration" Extension: 30 Days
    • Extra Expense: $100,000
    • Extra Expense "period of restoration" extension: 30 days
    • Spoilage Damage: $250,000
    • Utility Interruption: $250,000
    • Coverage only if Interruption lasts at least: 24 Hours
    • Civil Authority Coverage extension: 100 miles / 3 weeks
    • "Dependent Property" Coverage Extension: $250,000
    • "Electronic Data" or "Media" Coverage: $250,000
      • Error in Description: Included in Total Limit per Breakdown
      • Expediting expense: $250,000
    • "Fungus" Wet Rot and Dry Rot Coverage Extension:
      • (1) Property damage : $15,000
      • (2) Business Income or Extra Expense: 30 days
    • Newly Acquired Locations: Included in the "Total 90 days Limit Per Breakdown"
    • Ordinance or Law: $250,000
    • Refrigerant Contamination: $250,000
    • Hazardous Substances: $250,000
    • Water Damage: $250,000
  • Deductibles
    • Property damage: $2500 or $5000
    • Business Income: 24 Hours
    • Extra Expense: 24 Hours
    • Spoilage: $2500
    • Utility Interruption: 24 Hours
    • Refrigerant Contamination: $2500
  • Authority Levels
    • Maximum Insurable Value ( TIV) : $200,000,000
    • Maximum Limit Per Association: $75,000,000
    • Ineligible Risks:
      • Any Account that performs water or waste (sewage) treatment
      • Any Account with a prior loss in the past 3 years of ( 1) $25,000 or more ( 2) or two or more claims exceeding the deductible
    • Minimum Premium: $250 (For accounts with TIV < $250,000, the minimum premium is $250 and minimum TIV is $250,000 limit)
  • Resources
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  • Education
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  • Video
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*** Disclaimer:  This is a general eligibility summary and other guidelines can and will apply. #EB

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