When selling habitational insurance—the line that offers coverage for owners of condos, apartment buildings and other multi-unit dwellings—one of the crucial mistakes an agent or broker can make is assuming that all equipment-breakdown coverage is alike.
So those looking to avoid an errors & omissions problem need to understand the importance of securing coverage with a carrier that has a product that can be specifically tailored to meet all of an insured's equipment-breakdown needs, advises Carmen Suarez, underwriting manager for Preferred Property Program, a subsidiary of JGS Insurance, Holmdel, N.J.
“An insured can experience a catastrophic loss due to mechanical failure if, at time of loss, the proper coverage, including loss of income, is not in place,” Suarez says.”Our equipment-breakdown policy written through CNA provides this valuable comprehensive coverage.”
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
