What does the Physicians and Surgeons Equipment Floater specifically exclude from coverage?

The Physicians and Surgeons Equipment Floater is designed to protect the specialized equipment used by medical professionals against loss or damage. However, the policy specifically excludes coverage for service or maintenance of this equipment. This means that if a piece of medical equipment requires repairs or routine maintenance due to regular wear and tear, the costs associated with these services would not be covered under the floater.

This exclusion is important for practitioners to understand as it defines the boundaries of financial protection. It ensures that while equipment itself is insured against unexpected events like theft or damage, the ongoing responsibilities of upkeep and service fall back on the owners. This emphasizes the need for professionals to budget for these maintenance expenses separately, as they cannot rely on their equipment floater to cover these costs.

The other options do not reflect exclusions in the same way. New equipment purchases are typically covered under the floater, recognizing the need for coverage as new assets are acquired. Theft of equipment is also generally covered, offering protection against loss from criminal acts. Furthermore, property damage to third parties may not be within the scope of this coverage line, but it is treated differently and often falls under liability insurance rather than being an exclusion of the equipment floater.