Honolulu-based is offering equipment breakdown coverage to all homeowners policyholders. The optional endorsement is available for $15 per year and covers the cost of repair and replacement of high-valued home equipment such as appliances, computers, air conditioning systems and home security systems due to mechanical breakdown or electrical failure.
“Household appliances and electronic equipment can sustain severe damage from mechanical or electrical breakdown from causes such as a surge after power is restored,” said John Schapperle, president and chief operating officer of Island Insurance.
The equipment breakdown coverage endorsement can be added to existing homeowners policies to replace or supplement individual equipment warranties. Policyholders are being directed to purchase the coverage through their independent insurance agents.
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Topics Homeowners
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