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Frequently
Asked Questions
What type of equipment does the Equipment Maintenance
Insurance (EMI) program cover?
Most any type of electronic equipment utilized by your business. For
a list of equipment by industry, please see Coverage Categories.
Will
you cover just one type of equipment?
No, the key to providing a competitive quote is spread of risk across
multiple types of equipment. A single piece of equipment or multiple
pieces of the same equipment type is a very poor insurance risk.
Does
the program provide coverage for facility/plant equipment?
No, the focus of our program is electronic equipment. Items generally
not eligible for coverage include heating and air conditioning units,
boilers, chillers, elevators, escalators, outdoor signs, etc.
Does
the program cover software maintenance and upgrades?
No, the program does not cover software maintenance or upgrades.
Software support is a specialized service that is separate and distinct
from hardware maintenance. You should not cancel necessary software
support agreements.
What
if our vendor claims that we will no longer receive free of charge
software and hardware upgrades in the future?
Software upgrades come in different levels. The first level is due
to federally mandated safety issues. These software upgrades are
always free. The second level is due to standardization of vendor
maintenance levels throughout their client inventory for their own
efficiencies. These upgrades will be put in, sometimes without client
knowledge, and touted as "enhancements or upgrades" but
they usually do not upgrade the actual performance or capability
of the equipment. The third level of upgrade is an actual upgrade
of the capabilities of the equipment's performance. You will always
pay for these upgrades regardless of how you finance your maintenance,
unless you have negotiated software/hardware upgrades during purchasing
negotiations. Have the vendor provide you in writing an explanation
of the upgrades to be given free of charge. It should include the
reasons and benefits of the upgrade. This will put you in a better
position to determine if you are actually getting a "free upgrade".
Can
our own staff repair our equipment?
Yes, the policy extends coverage to reimburse your company at the
rate of forty dollars per hour for repairs performed by your staff
on covered equipment. We will also pay for associated parts.
Will
my equipment response time from my current service providers change
if we cancel our maintenance contract?
Response times should not change. In fact, vendors may come sooner
if he knows you may call another vendor for your repairs.
What
if our service vendors state they will not service our equipment
without a maintenance contract?
Most reputable vendors have your best interest in mind and are eager
to earn time and material billings. Since your vendors will be charging
an exorbitant hourly rate for labor and travel, they have a financial
incentive to provide quality service on your equipment. In addition,
there are many qualified vendors in today's marketplace that want
your business - creating a very competitive environment. Remember
that you would be giving your vendors the opportunity to earn the
time and material billings. Each service call's performance outcome
determines if you will utilize that vendor again in the future.
Also, vendors prioritize their calls based upon severity of the
problem and geographic location.
Without
a maintenance contract, our vendor claims they will not stock parts
critical to the maintenance of our equipment. Can they do this?
Vendors have the inherent responsibility to support products that
they sell regardless of how you may decide to finance your maintenance.
Vendors will try to protect their margin and may claim just about
anything to stop you from leaving your contract, but the fact remains
that you will receive the same level of service if not better than
their contract customers. The vendor understands that as a time
and material customer you have the ultimate decision as to who services
your equipment and who you will purchase future equipment from.
This gives them incentive to provide you with the service and parts
you need to keep your equipment functioning properly.
What
if I need service after hours or on weekends?
Unlike most service contracts that limit hours of coverage (i.e.
8am to 5pm), the Program provides coverage around-the-clock. Your
equipment is protected seven (7) days a week, twenty-four (24) hours
a day.
Does
the program cover preventative maintenance?
We can cover preventative maintenance, which follows standard OEM
(Original Equipment Manufacturer) recommendations.
Does
the program cover equipment upgrades?
The cost for equipment upgrades, modifications, updates, overhauls,
or refurbishment including travel and labor charges are not covered.
However, the Program may reimburse for modifications designed to
enhance the reliability of the equipment. Please consult with insurance
company prior to performing such upgrades to determine if the modification
qualifies for coverage under the program.
Does
the program cover consumable items?
Consumables are generally excluded from maintenance contract coverage
and the Program excludes them as well.
How
difficult are the administration aspects of the program?
Program administration is easy! Equipment can be added or deleted
from the program through the Program's Online System or by simply
informing your assigned Program Representative of the equipment
schedule change. To receive reimbursement for equipment repairs,
all you need to do is submit a copy of the repair work order and
invoice for reimbursement, in the pre-addressed envelopes that will
be provided.
How
do we track which pieces of equipment are on the program?
You will receive an equipment schedule when the program is initiated
which defines all the equipment covered by the program. As equipment
changes occur during the year, you will receive revised equipment
schedules including all equipment changes since program inception.
The equipment schedule allows you to track all equipment covered
by the program and includes complete equipment descriptions, model
numbers, premium charges, and defined levels of coverage. You also
have 24/7 access to your equipment schedule using the Program's
Online System.
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