COMMERCIAL INSURANCE
Mechanical Breakdown Insurance
About Mechanical Breakdown Insurance
This insurance plan is designed to help protect you after you have purchased a vehicle, against mechanical failure of the major mechanical components of your vehicle.
A common fear among vehicle owners is that the day after your factory warranty expires, the transmission fails. If you have Mechanical Breakdown Insurance (MBI), then you have nothing to worry about. This insurance is designed to cover the repair or replacement costs incurred as a direct result of mechanical, and/or electronic breakdown. It does not cover the repair or replacement of worn out components which have not suffered a breakdown.
This policy will protect you from having to pay out-of-pocket for major repair bills. For this policy to apply, your vehicle must fulfill the following requirements:
Your vehicle must be...
- less than 10 years from the date of manufacturing.
- have less than 100,000 miles on the odometer
- have been regularly serviced (must have had a service within the last 12 months)
- are not on the excluded vehicle list or use list. Contact BLG for further explanations of this list.
It is important to understand what is not covered by Mechanical Breakdown Insurance. The following is a sample list of items or events that may not be covered:
- damage caused by the use of incorrect fuel
- damage due to the use of the vehicle at any time for racing or any kind of competition
- any loss or damage due to any traffic accident, accidental damage including theft
- any oil leaks, unless is it a result of the breakdown of a covered component.
- damage caused by frost or the freezing of liquids unless antifreeze had been added in accordance with manufacturer's recommendations.
- lack of routine maintenance as detailed in your servicing handbook
- repeat repairs necessary as a result of poor workmanship or faulty components
- burnt or worn out clutch components, decarbonized, reseating or sticking and burnt out valves.
- any defects in any application or systems software.
- The cost of repair from any exploratory or investigation work not associated with a valid claim.
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Annual Review
At BLG, we strongly recommend you review your insurance coverage at least once a year. Your commercial situations may have changed. Or, maybe you’ve made a few major purchases throughout the year that should have extra coverage. Inflation or depreciation can affect the value of your properties and their contents. Call BLG now to review, renew or establish your customized insurance policy that fits your world.
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