Post by Mary Smith on Mar 2, 2009 13:37:05 GMT -5
Do you know that with out a specialized type of coverage your standard business insurance policy that covers your property will not cover various types of electrical/equipment/airconditioning items?
Most times reading about insurance is, I admit, pretty boring stuff, but here's a few that are a little more interesting... bottom line, be sure you know what is covered, this economy is not the time to be surprised. Know what you are paying for because with out the specialized coverage none of these would have been a paid claim under a regular property insurance policy.
Snake Shuts Down City. A snake squeezed into a breaker box in a municipal utility substation, knocking out power to a city in a $342,707 equipment breakdown loss. Damage from electric arcing was so severe that temporary rental equipment was brought in to restore service. The paid loss included $260,954 for repairs and $81,754 for lost income.
Bat Escapes, Lawyers Not Talking. When the telephone system in a law office went down, a technician began troubleshooting by opening the equipment cabinet on the voice processor. He heard a strange sound and a bat flew out of the console. The animal had somehow become trapped and shorted out the system’s circuitry, resulting in a $4,800 paid equipment loss.
No Horsing Around. A horse being treated for a leg injury kicked the head of a shockwave therapy machine. The veterinarian said sparks later shot from the machine, which is used to help animals heal broken bones and connective tissue. A new machine coil, transducer and therapy head had to be shipped from Switzerland as the paid loss totaled $35,270.
Birds On The Wires. Birds flew into high voltage lines connected to transformers for a community building complex, disrupting the power supply and damaging 14 rooftop air conditioning units. Extensive repairs were necessary for a paid equipment breakdown loss of $203,789.
Dead Lizards. Smoke poured from the main electrical panel and circuit breaker at a regional wastewater treatment plant. Firefighters responded and found two dead lizards on the burned out connections. The accident shut down pumps until covered repairs totaling $8,839 were completed.
Squirrel Chills Ice Sales. A squirrel shorted out a utility transformer and caused power to fluctuate inside a nearby service station and mini-mart. The accident damaged a snow cone ice shaving machine and a beer cooler’s refrigeration compressor. The paid claim totaled $1,340.
Most times reading about insurance is, I admit, pretty boring stuff, but here's a few that are a little more interesting... bottom line, be sure you know what is covered, this economy is not the time to be surprised. Know what you are paying for because with out the specialized coverage none of these would have been a paid claim under a regular property insurance policy.
Snake Shuts Down City. A snake squeezed into a breaker box in a municipal utility substation, knocking out power to a city in a $342,707 equipment breakdown loss. Damage from electric arcing was so severe that temporary rental equipment was brought in to restore service. The paid loss included $260,954 for repairs and $81,754 for lost income.
Bat Escapes, Lawyers Not Talking. When the telephone system in a law office went down, a technician began troubleshooting by opening the equipment cabinet on the voice processor. He heard a strange sound and a bat flew out of the console. The animal had somehow become trapped and shorted out the system’s circuitry, resulting in a $4,800 paid equipment loss.
No Horsing Around. A horse being treated for a leg injury kicked the head of a shockwave therapy machine. The veterinarian said sparks later shot from the machine, which is used to help animals heal broken bones and connective tissue. A new machine coil, transducer and therapy head had to be shipped from Switzerland as the paid loss totaled $35,270.
Birds On The Wires. Birds flew into high voltage lines connected to transformers for a community building complex, disrupting the power supply and damaging 14 rooftop air conditioning units. Extensive repairs were necessary for a paid equipment breakdown loss of $203,789.
Dead Lizards. Smoke poured from the main electrical panel and circuit breaker at a regional wastewater treatment plant. Firefighters responded and found two dead lizards on the burned out connections. The accident shut down pumps until covered repairs totaling $8,839 were completed.
Squirrel Chills Ice Sales. A squirrel shorted out a utility transformer and caused power to fluctuate inside a nearby service station and mini-mart. The accident damaged a snow cone ice shaving machine and a beer cooler’s refrigeration compressor. The paid claim totaled $1,340.