Today’s Homeowners Have More Equipment at Risk.
HSB's Homeowners Equipment Breakdown coverage fills an important gap. Standard Homeowners policies are not designed to cover most equipment breakdowns. Yet equipment breakdowns can cost policyholders thousands and can present a big inconvenience if the family must find temporary living arrangements while heat and hot water are restored. Homeowners today rely upon a wide range of equipment for heating, cooling, and hot water as well as for cooking, entertainment, communications and home maintenance. With their increased investments in equipment, homeowners have a growing coverage need. Homeowners Equipment Breakdown should be an essential element of any homeowner’s insurance program.
HSB's Homeowners Equipment Breakdown pays for damage due to causes of loss such as mechanical breakdown, electrical arcing, short circuits and boiler cracking. Additional Living Expenses coverage pays for expenses incurred when the home is uninhabitable due to a covered equipment breakdown. And it includes coverage for spoilage due to a covered breakdown.
HSB’s Program Is Flexible.
HSB gives you the flexibility to choose the coverage that's right for your company and customers. You decide the breadth of coverage that best suits your book of business, underwriting and claims philosophy. We'll tailor your coverage and pricing based on the options you choose. Covered equipment can include:
Essential Infrastructure - Covers equipment where losses are typically well above the average homeowners deductible such as heating/air conditioning/ventilation systems, hot water heaters, well pumps, emergency generators, security systems, central vacuum systems, pool pumps and filtration equipment. It’s essential coverage no homeowner should be without.
All-Inclusive Coverage - Keeps it simple by including all home equipment. This covers installed equipment listed above plus all personal equipment such as kitchen appliances, flat screen TVs and other home entertainment systems, computers and electronic devices, shop tools, even lawn maintenance equipment.
Riding mowers opt-out - For Homeowner portfolios with a high concentration of risks in cities, condominiums and other maintained communities who don’t have a need for lawn equipment coverage, we offer the option to remove coverage for riding mowers for a lower cost.
Total Support to Maximize Your Success
When you launch a new product, it’s service and support that make the difference. Developed over decades of helping insurance companies integrate specialty coverage, our streamlined process makes it easier to get to market faster and maximize success with your new homeowners product enhancement. A team of HSB specialists organizes around your needs, assisting with everything from product development and pricing to customized forms, filing support, training modules and marketing tools, to claims adjustment. Whatever your need, we will find a suitable solution.