Equipment breakdown coverage
 

Tower Hill Insurance offering Equipment breakdown coverage for 50 dollars per year
Anybody have it and tried to use it?
Wondering if it is worth it?

What equipment are you talking about?

Most of the polices I have seen (like SECO) have so many out clauses, that they are probably not worth it. Like one is refrigerators are not covered if they have Ice makers (the lightning surge can come in by the water line). However, having NOT seen this offering I really have no opinion on this specific offering.

In my opinion, it is a waste of money.

These packages are essentially gambling you'll have repairs more than the cost.

The insurers do not lose money.

You have to have Tower Hill Homeowners insurance to get it. It's not a standalone policy. IF I had Tower Hill (I do not) for $50 a year I'd take it. I mean we p1ss away way more than that on ice cream and pretzels and lottery tickets in a year. Some folks spend that on beer and cigarettes in a WEEK! IMO **IF** I had Tower Hill homeowners $50 a year is worth a gamble.

From OP's link: Breakdown coverage is now available through your homeowners insurance policy for only $50/year. If you’re a homeowner with a Tower Hill policy, you now have the option to have your equipment breakdown exposures covered.

Tower breakdown
 

I have it. $500 deductible. They covered it when my refrigerator icemaker and control panel stopped working properly but when my coil in my heat pump developed a leak the adjuster said sorry normal wear and tear - which is not covered.

Worth $50?
 

Since you have to have Tower Hill Homeowners insurance to get it, assuming that you do, why not ask your insurance rep?

Would like to see the fine print of coverage.
This is all I could find:
*This loss scenario is for illustration purposes only. Actual coverage, exclusions, deductibles and policy limits will be determined by the issued policy language.

getting slow here- usually way before post #8 do you get the predictable "why ask here" response

Like most things, it is worth no more than you pay for it. They are selling with the intention of making a profit. It might be worthwhile if you lack the financial liquidity to handle repair expense of a few thousand dollars at most.

OP, I would suggest that you ask Tower Hill to send you a copy of the actual contract that describes the coverage. Apparently, Tower Hill does not want you to read it because it is not available online. I would pay special attention to the exclusions section. Note that, if something breaks down, it will be their option to repair or to replace the item, not your option. The coverage does not include normal wear and tear, which is a subjective determination, that the company will make, not you. I agree with other posters who said that it is a way for the company to increase profits at your expense. Also, submitting a claim under this add-on coverage could affect your overall insurance premium.

power
 

2017 IRMA cat 5 - Pine Hills lost Leesburg power 19 hours Seco never lost it. Outside the Villages some down a week