Warranties Available For Used Equipment Purhased Online

Compiled ByDeborah Austin The Hartford Steam Boiler Inspection and Insurance Co. (HSB) has begun underwriting limited warranties for used industrial equipment sold through online equipment marketplaces. HSB will pay to repair or replace used machinery and equipment for 90 days after online purchase. The coverage aims to help business-to-business equipment marketplaces give customers greater assurance about making large purchases on the Internet. Many online used equipment marketplaces have been operating for less than a year, notes HSB. "As with anything purchased online, you're not able to kick the tires, so a buyer who wants a piece of expensive assembly line equipment, for example, needs assurance that what's being bought will operate when it arrives," says Charles Bittner, program manager for insurance of warranted assets. Depending on the condition of the equipment being sold, HSB will pre-approve selected assets as eligible for warranty. Hartford Steam Boiler, headquartered in Hartford, Conn., was founded in 1866 to provide loss prevention service and insurance to businesses, industries, and institutions.