Protect Your Life and Your Property
Sumter EMC’s liability insurance covers the loss of a member’s equipment and food if the loss is caused by the Cooperative’s error. If a loss occurs involving Sumter EMC’s facilities, but the Cooperative is not in error, the loss is not covered by our insurance and no payment is made to the member. These cases usually involve acts of nature or vehicular accidents.
Are You Protected?
Many losses occur due to acts of nature which are beyond the control of the Cooperative. The member must provide his own protection for these losses. Become familiar with available means of protection and determine which risks you choose to protect against.
If loss does occur, insurance policy provisions can provide some protection. The average user of electrical energy seldom knows or understands the extent of his insurance protection. Many policies are available from numerous carriers, such as:
- Dwelling Policies
- Homeowner’s Policies
- Tenant Homeowner’s Policies
- Farm Owner’s Policies
- Commercial Policies
- Computer Policies
Policies vary greatly in their extent of coverage. Many policies will cover lightning damage to equipment and appliances with exclusions for electronic components. Some policies will cover damages resulting from power interruptions if the interruption originates on the insured’s premises. There are varying interpretations of what constitutes “on the premises”.
Other policy considerations include payments of Replacement Costs versus Actual Cash Value, differences in coverages concerning contents as opposed to parts of the structure, and special or unusual peril provisions (such as food spoilage peril).
Only your agent can provide the full information you need to assure adequate protection. Have your agent specifically point out your peril coverages and exclusions. Be sure to address losses that can occur when a problem occurs with the electrical distribution system serving you.