Archives for electrical

iMGA Homeowners (HOA/HOA+), Dwelling (TDP1/TDP3) and MobileHome policies underwritten by San Antonio Indemnity Company will now  automatically include Equipment Breakdown coverage.

Since our competitors are talking double digit rate increases due to the historic storm losses in Texas, we decided that we would cling to our guns, Bibles, and pickups and keep true to our mission of being simple and different.

As such, we kept our rate changes low while adding this valuable additional coverage to help you better explain an increase to  your customers. This coverage will be included automatically – adding coverage for losses due to electrical, mechanical or pressure systems failures, subject to a $500 deductible.

We will continue to follow up with more educational materials about this exciting new addition over the next few weeks. This coverage will be included on new quotes for policies effective  8/15 and all renewals effective 10/1/2011 and later. True to our mission, here is a quick and easy overview:

The modern home contains many expensive systems and appliances that can benefit from Equipment Breakdown coverage. These include:

  • Clothes Washers and Dryers
  • Computer Equipment
  • Dishwashers
  • Freezer Units
  • Garbage Disposals
  • Heat Pumps
  • High Efficiency Home Heating and Central A/C Systems
  • High Energy Electrical Service Panels
  • Home Security Systems
  • Kitchen Refrigerators
  • Lighting and Home Environment Monitoring
  • Microwaves
  • Ovens
  • Sump Pumps
  • Surround Sound Systems
  • Swimming Pool Equipment
  • Televisions (Plasma, LCD, etc)
  • Water Heaters
  • Well Water Pumps

Basically, if it uses electric power, it is most likely subject to Equipment Breakdown.

Even items that you typically think of as disposable; such as, garage door openers, exhaust/ceiling fans, DVD players and much more, could benefit from this coverage as a result of an electrical power surge since the deductible is per-occurrence not per item.

In addition to the direct cost to repair or replace covered items, Equipment Breakdown coverage also provides for loss of use, cleanup and removal, and even additional costs for replacement with upgraded “green” items.

We are very excited about offering this fantastic coverage enhancement to our policyholders, especially since we’re including the coverage for no separate charge – all our customers with the San Antonio Indemnity Company HOA/HOA+, TDP1/TDP3 and MobileHome policies will have it automatically.

If you are a Texas Independent Insurance Agent who does not already represent iMGA and you’d like to be able to offer this coverage to your clients, contact us today.

Failed air conditioners, leaking boilers, overheating electrical panels, and short-circuited well pumps – see these and many more Equipment Breakdown coverage examples.

↑ Top of Page