I was talking to my doctor.....
My doctor knows that I am in the insurance business. This can be a bad thing. So, the normal displeasure of visiting a doctor was added to by his ranting about how lousy his insurance company was. It turns out that he had a major power surge at his house which blew out most of his electronics. Plus, being a gadget guy, he has a "SMART" house with electronics controlling cameras, lights, windows, doors, appliances, toilets and other such silliness. He thought that his insurance company was lousy because they told him that power surges were NOT covered. They were denying his claim.
 
Although I was born at night, I wasn't born last night. So, I decided it would be best to wait for him to take off the rubber glove before telling him the unfortunate truth. 
 
Sorry Doc, I said. Most insurance policies don't cover damage caused by a power surge. However, if you had Personal Equipment Breakdown coverage, it would be covered. With power surges being the number one cause of appliance failure, and fluctuating power grid issues plaguing Texas, this is great coverage that you should have.  
 
I explained that we automatically include Personal Equipment Breakdown coverage in all of our homeowners, dwelling, and mobile home policies. Coverage is provided for insureds' appliances and equipment such as air conditioners, stoves, microwave ovens, refrigerators, washers, dryers, televisions, computers, water heaters, riding mowers, well pumps, pool filter pumps, and even those fancy self flushing toilets of yours. Personal Equipment Breakdown covers appliances and equipment when a power surge fries them, or they suffer a mechanical issue such as seizing and ruptures.  
 
With a tear in his eye, he asked if we could insure his house. I politely tucked in my shirt and said, sorry Doc, but we write mostly smaller older homes, rental properties, and mobile homes. Plus, we only write through independent agencies, but I can get you in touch with a good agent who can help.
 
So, the moral of the story is that standard insurance policies rarely provide coverage for these events and most insureds are stuck with large repair bills. A burnt out well pump could cost $2,000 to repair. A seized air conditioner compressor could cost another $2,500 to fix. Fortunately, we have automatically added Personal Equipment Breakdown coverage that provides up to $100,000 in coverage with a low $500 deductible to all of our homeowners, dwelling, and mobile home policies.
 
Personal equipment breakdown is a coverage enhancement that your clients will really appreciate when the inevitable appliance failure happens. Don't leave your customer crying like my doctor. Please do not hesitate to contact us with any questions. Thank you for your support!