What is the maximum deductible Jeremy has on his Equipment Breakdown Protection policy?

The maximum deductible on an Equipment Breakdown Protection policy is often set at $10,000, as this amount is typical for such policies, providing policyholders with a balance between manageable out-of-pocket expenses and adequate coverage for equipment failures. In this context, Equipment Breakdown Protection is designed to cover losses that result from mechanical breakdowns, electrical failures, and other similar issues that standard property insurance policies might not cover.

Having a deductible of $10,000 means that Jeremy, when making a claim for a covered equipment breakdown, would need to pay this amount out of pocket before his insurer would cover any additional costs associated with the claim. Such policies help businesses mitigate financial losses from unexpected equipment failures, while the deductible amount encourages proactive maintenance of equipment.