PO Box 778 ~ 51379 South Hwy 97

La Pine, Oregon 97739

Phone: 541-536-1718 or 800-506-1718

Fax: 541-536-5032 / Email: info@lapineins.com

Business owner policies combine protection from all major property and liability risks in one package.  Packaged policies are created for businesses that generally face the same kind and degree of risk.

Larger companies may purchase a commercial package policy or customize their policy to meet the special risks they face.

Many companies need "EQUIPMENT BREAKDOWN" coverage and are not aware of the need for such coverage.  Below are a number of reasons that your business needs this coverage:

When equipment breaks down, your business can come to a halt or be seriously hampered.  It's a costly risk every type of business, institution, and municipality faces--yet most standard property policies exclude this coverage.

Equipment Breakdown insurance pays for physical damage to equipment caused by mechanical and electrical breakdown.  It can also cover business income or spoilage losses due to equipment breakdown and your extra expenses to limit the equipment loss or speed repairs.

The coverage protects against covered losses caused by:  Short circuit, electrical arcing, power surges, mechanical breakdown, motor burnout, boiler damage, operator error.  Some common causes of such losses are:  Electrical distribution systems failures, heating and cooling system failures, telephone system failures, computer malfunction or failure, refrigeration system failures.

Many states and local governments require boilers and pressure vessels to be inspected periodically by commissioned inspectors.  Most insurer programs include these inspection services so you avoid local fees in many jurisdictions and only pay the certificate fee.

The risks are real.  The coverage for Equipment Breakdown is relatively inexpensive and could mean the difference between staying in business and having to shut the business down.
Business owner policies normally include:

• Property insurance for buildings and contents owned by the company - there are two different forms, standard and special, which provides more comprehensive coverage.
• Business interruption insurance covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business. It can also include the extra expense of operating out of a temporary location.
• Liability protection, which covers your company's legal responsibility for the harm it may cause to others.  This harm is a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided.

Business owner policies do NOT cover professional liability, auto insurance, worker’s compensation or health and disability insurance.  You'll need separate insurance policies to cover these subjects.

NOTE:  Portions of the above information have been graciously provided by The Insurance Institute.
These definitions are not applicable in all states or for all products. This is not an insurance contract. Other terms, conditions, and exclusions apply.  Please read your policy for full details about the coverage.  These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control.