In addition, liability insurance covers damage done to other's property, should the insured become legally liable for the damages.

Boiler insurance was originally created to cover loss due to insureds owning a pressure boiler. However, today, boiler insurance is often more aptly renamed equipment insurance.

Equipment insurance will provide coverage for mechanical breakdowns of equipment, including the cost of repairing or replacing the equipment. The equipment can include: air conditioners, hot water heaters, electrical and mechanical boxes, boilers, and even sometimes computers and telephone systems. Common types of damage to equipment include: short circuits, air conditioning failure, and boiler or hot water heater cracking, burning or bulging. Coverage includes repair and replacement costs, as well as costs to expedite repairs as well as damage to other property caused by the equipment breakdown (Ollis, 1997).

Title insurance protects an individual's investment before they make a property purchase.

With real estate traditionally...
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