All multifamily housing owners, regardless of type and size of rental property, are dependent on equipment: electrical equipment; heating and cooling systems; mechanical equipment; refrigeration equipment; and computers, to name a few.

At Millers, our target customer owns 1-4 family dwellings and has a small portfolio of rental properties–which means any type of unexpected claim or loss could burn quite a hole in their pocket. By affordably adding Equipment Breakdown Coverage to a Businessowners Policy (BOP), property owners can rest easy knowing insurance expertise and financial assistance will kick in when coverage is triggered by an accident or electronic circuitry impairment.

Coverage Designed to Address Today’s Modern Equipment Risks

Millers Mutual has partnered with Hartford Steam Boiler to offer Equipment breakdown Coverage with HSB TechAdvantage, to provide a more robust product, jurisdictional inspection services for boilers and pressure vessels for insured locations required by law, and offer experienced equipment claim specialists to manage and adjust all claims on behalf of Millers.

Our solution not only includes all the coverages, services and benefits associated with traditional equipment breakdown insurance, it is designed to address today’s modern equipment risks and technology related failures such as future loss avoidance, cloud computing service interruption, off premises equipment breakdown, and public relations.

Don’t Leave Tenants in the Dark

Tenants pay rent for a reason. They expect necessities, amenities, and when something’s awry, responsiveness. Power outages and service disruptions are part of life, but extended delays for repairs amid uncomfortable conditions will test anyone’s patience. Don’t leave your tenants in the dark. Equipment breakdown coverage helps you quickly repair, replace, and restore the building equipment that makes your property feel like home — so you can keep your reputation and rental income intact.

Do Rental Dwelling Owners Need Equipment Breakdown Insurance?

Dust accumulation in the main electrical power panel assembly led to an electrical arcing incident which fused much of the central wiring and left a rental dwelling property without power.  Emergency service from a licensed electrician was used to remove the old panel box and breakers, locate a suitable replacement, and install the new equipment. Fortunately, the landlord had equipment breakdown coverage added to the Businessowners Policy for the rental dwelling, covering the cost of the replacement equipment plus hotel expenses for the tenant for one night due to loss of use of the house. The total loss paid was $1,850 for Property Damage and Extra Expense.