Jan. 31, 2014: Boiler Inspection and Insurance Co. of Canada Offers Home Systems Protection
Broad Protection for Mechanical and Electrical Breakdown
TORONTO — The Boiler Inspection and Insurance Co. of Canada, part of Munich Re, has announced a new homeowners insurance program — Home Systems Protection, offering equipment breakdown coverage for heating, cooling, water and power, security, and other home systems and appliances.
Coverages include damage caused by sudden and accidental mechanical or electrical breakdown; loss of use and additional living expenses if a home becomes uninhabitable; and spoilage of refrigerated goods. Coverage also includes efficiency incentives, paying up to 150 percent on a covered loss for replacement of damaged equipment that is better for the environment, safer for people, or more energy or water efficient.