Equipment breakdown coverage is mandatory by most lenders when boilers or chillers are present on premises.  However, it also provides coverage for power surges that originate off premises such as a lightning strike to an adjacent property.  Property policies provide coverage for power surges originating on premises, but exclude coverage if the surge originated off premises.

Examples of items covered are air condition units, electrical and alarm systems that were  damaged because of a power surge.  Additionally, it covers extra expenses incurred as a result of such event.  As an owner, this exposure can be very costly.

Apartment Insurance Solutions has responded with a inexpensive program for commercial building owners…broad coverage, low deductible, inexpensive rates.