Not by a standard property policy, which covers the equipment against fire or theft but not mechanical breakdown. Equipment breakdown coverage handles the repair, the spoiled stock and the income you lose while it’s down.
Not by a standard property policy, which covers the equipment against fire or theft but not mechanical breakdown. Equipment breakdown coverage handles the repair, the spoiled stock and the income you lose while it’s down.
Fraud is a crime
If your application contains purposefully misleading, absent, or inaccurate information, you could be charged with fraud. Your insurance carrier could potentially void your policy, or you could face civil or criminal charges or penalties.
Any person who knowingly and with intent to defraud any insurance company or other person, files an application for insurance or statement of claim containing any materially false information or conceals, for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent act, which is a crime.
