Equipment breakdowns can mean closing your doors and losing thousands in revenue. Some commercial coverage can help cover the cost of replacing equipment for restaurants in Wheat Ridge, CO, but it depends entirely on the type of coverage you have.

Standard Policies

Standard commercial policies, often called commercial property policies, typically cover property damage. They can help with damage from qualifying events such as covered natural disasters, fire, or wind damage. Some policies offer limited coverage for the building’s contents, including equipment, while others offer none at all. Speak with an agent at CO Insurance Specialist to find out exactly what your policy covers.

Commercial Property and Contents Coverage

It’s worth asking your agent specifically about contents coverage. This type of coverage pays for items inside the building, such as equipment and helps cover replacement costs if a qualifying event occurs. That said, it commonly excludes mechanical failure and normal wear and tear.

Equipment Breakdown Coverage

Sometimes equipment fails due to a mechanical breakdown rather than an external event. Standard policies generally won’t cover this, but you can usually add a rider or separate policy specifically for equipment breakdowns. This can help cover replacement or repair costs, as long as the breakdown isn’t the result of normal wear and tear.

Unfortunately, most policies exclude wear and tear entirely, meaning you’d be responsible for replacement costs if equipment fails simply because it’s reached the end of its expected lifespan.

Agents at CO Insurance Specialist can help you understand your options and make sure your restaurant insurance properly covers your commercial equipment. Contact us today to learn more. We’re currently serving the Wheat Ridge, CO, area.

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