TechAdvantage™ Equipment Breakdown

Keeping Pace with Evolving Equipment Risks

As technology continually changes, it’s important to address both traditional equipment risks and emerging exposures. TechAdvantage™ Equipment Breakdown covers devices that transmit energy, like mechanical and production systems, cooling and heating equipment, boiler and pressure vessels, electrical and computer systems, and more. The result? Comprehensive insurance coverage that helps businesses compete in a complex technological world.

Who’s it for?

Any and all qualified businesses that utilize electrical and mechanical systems or devices that come with inherent technology risks.

Why would you use it?*

With advances in equipment functionality come new exposures that standard policies don’t address. With TechAdvantage™ Equipment Breakdown, you’ll get coverage for all this:

  • Property Damage: Direct physical damage to covered property that is the direct result of an “accident” or “electronic circuitry impairment.” Additional cost is provided to replace damaged property with new equipment that is better for the environment, safer for people, or more energy or water efficient than the equipment being replaced. Up to 150% of the cost of replacement with like kind and quality is covered. These additional costs are only provided when replacement is necessary or required.
  • Business Income: Cost to cover the loss of business income, if included under the property coverage, due to a total or partial business interruption resulting from a covered accident. Additional costs are provided should equipment need to be replaced.
  • Data Restoration: Reasonable and necessary cost to research, replace, and restore lost electronic data.
  • Expediting Expenses: Extra costs to make temporary repairs and expedite permanent repairs or replacement.
  • Hazardous Substances: Additional costs to repair or replace covered property due to contamination by a hazardous substance, including additional clean up and disposal expenses.
  • Microelectronics Coverage: Cost for certain types of electronic circuitry failure that occurs when covered equipment suddenly stops functioning as normal and no physical damage is detected, resulting in the need to replace one or more electronic circuitry components of the equipment to restore functionality.
  • Cloud Computing Service Interruption: Cost for business interruption and extra expense when your service provider experiences an outage due to an accident.
  • Service Interruption Data Restoration: Income loss, expenses, data restoration, or spoilage costs due to service failure resulting from an accident to certain types of your service provider’s equipment.
  • Public Relations Coverage: Up to $5,000 in costs for professional services to create and disseminate communications should a loss of business income require a public statement.
  • Spoilage: Physical damage to perishable goods due to a covered cause of loss or contamination.
  • Off Premises Equipment Breakdown: Physical damage to transportable covered equipment that at the time of the “accident” or “electronic circuitry impairment” is not at a covered location. Cost to research, replace, and restore lost electronic data contained within covered equipment.

How do you get it?

Because equipment is always evolving, it’s important to have coverage that evolves with it. That’s why we automatically offer TechAdvantage™ Equipment Breakdown with all qualified policies to help address not only traditional equipment risks, but a variety of modern exposures.

*Actual coverage is specified in the policy issued. TechAdvantage™ is a trademark of the Hartford Steam Boiler Inspection and Insurance Company.