Simply Explaining Insurance #82- Service lines and Equip. Breakdown

The carrier that I work for just added two exciting endorsements to our latest homeowners policy. If there was ever such a thing as an exciting endorsement to a homeowners policy, this is it.

This first one is a service line endorsement. It covers things like, the main water line running to the house from the street. If that sucker springs a leak, this endorsement will cover the excavation and repair of said pipe. Many homeowners policies do not have this coverage. You can add this on our policy for a whopping $25 month.

We are also adding an equipment breakdown coverage which covers what I call the “guts” of your house. Things like your HVAC system, your water heater, appliances, etc. This is close to an aftermarket home warranty program. If your furnace goes down, there may be coverage. If a power short affects your appliances and they are damaged, there is coverage. This is all for $35 year.

I have had instances in the past where clients have called up and asked about specific scenarios that did not end up being covered on their homeowner policy. A main water line leak and a power surge. I had to tell my clients that I was sorry there is no coverage. Now there is!