With a standard renters insurance policy, your stuff is covered from a set of named perils—things like fires, windstorms, or vandalism—but generally isn’t protected against damage caused by or resulting from electrical failure or mechanical breakdown.
But there’s good news: Adding Equipment Breakdown Coverage (EBC) to your Lemonade policy can help protect most of the electronics and appliances in your home.
EBC can cover your 85-inch television, as well as things like your dishwasher, washing machine, refrigerator, dryer, AC system, home gym set-up, air tanks, central vacuum systems, computer, security system, sump pumps… even the climate control for your wine cellar, if you have one (how posh).
Get your gadgets covered with Lemonade
Sign Up NowSo, if there’s a mechanical or electrical breakdown, EBC may provide up to $100,000 in coverage on almost any home appliance. (One rule of thumb to keep in mind: For EBC to kick in, your item needs to have some direct physical damage that requires repair or replacement.) As with your underlying policy, a deductible will apply to every claim.
It’s worth noting that EBC only covers equipment you own. Any appliances or systems that come with your place and are owned by your landlord or property management company aren’t eligible.
Another nice little perk: If your fridge or freezer is damaged as a result of a breakdown and all your food spoils, EBC can provide up to $10,000 in coverage. That’s a whole lot of microwavable pizzas!
But wait…don’t appliances generally come with warranties?
They sure do! But if you read the small print, most warranties are only valid if the machine or appliance malfunctions, or if there’s a technical problem. If there’s a sudden power outage causing your 10-year-old AC to breakdown, you can’t rely on your warranty. However, you may have coverage under EBC.
If your equipment stops working because it’s been badly maintained, it won’t be covered. Just like other Lemonade endorsements, we won’t always cover damage resulting from erosion, rusting or leaking. So it’s just as important to keep up with general home maintenance.
Want to add EBC to your renters policy? It only costs $2/month extra, and your deductible, aka the amount deducted from your claims, is a fixed $500.
Like the sound of enhanced protection, at a ridiculously reasonable price? Go ahead and see what Lemonade’s Equipment Breakdown Coverage can do for you.
