The purpose of this coverage is to provide coverage for perils that are excluded in Commercial Property Policies: Steam Pressure, Mechanical Breakdown, Electrical Damage. This is a property loss exposure and potential gap.
Every insured has exposures of loss that can be covered under this type of coverage. As an example, electrical arcing can cause damage to wiring in a building or in equipment. This type of damage can be expensive to replace or repair, and may also cause loss of income.