MiniCo Insurance Agency LLC, a provider of insurance products for the self-storage industry, has introduced equipment-breakdown monoline coverage. The program is offered as a complement to the company’s existing commercial-property policies and is underwritten by its carrier partner, Liberty Mutual Insurance Co., according to a press release.
Coverages include business income, computer equipment, data and media, electronic-circuitry impairment, extra expense, property damage, spoilage, and utility interruption. Each risk will be underwritten individually, with coverages customized to meet the needs of each policyholder, the release stated.
“Equipment breakdown is a necessary coverage for commercial risks, and MiniCo has been working to enhance our program to benefit both agents and property owners,” said Mike Schofield, MiniCo President and CEO. “Through our partnership with Liberty Mutual, we are now able to offer monoline equipment-breakdown solutions to a wide range of commercial properties nationwide. We are excited to provide this new and important product for our agents to offer to their clients."
MiniCo was founded in 1974 as a provider of specialty insurance products and publications for the self-storage industry. The company offers multiple specialty property and casualty insurance products for a variety of industries and exposures, including self-storage. It also operates MiniCo Insurance Agency of Canada Inc. Both are members of the Aran Insurance Services Group.
- Broadway World: MiniCo Insurance Agency Introduces Equipment Breakdown Insurance