All it takes is a power outage to highlight how dependent 21st Century business is on electronic equipment
Electronic Equipment insurance is intended to cover all types of electronic equipment from large processing installations to advanced technology ranging from desktop computer hardware through to hand-held devices, PABX equipment, sophisticated medical equipment and hi-tech scanners, printers, laptop and notebook computers. We even can offer cover on acertain Computer Numerically Controlled (CNC’S) and Pro Logic Controllers (PLC’s) equipment.
This policy covers loss of, or damage to, electronic equipment described in the schedule at your premises, and when that property is temporarily removed from your premises to any other location.
Risk Profile of losses
- Electrical & Mechanical breakdown
- Fire
- Natural Hazards
- Theft/Burglary
- Negligence / accidental damage
Causes of losses
- Elemental perils
- Human error (negligence)
- Operation failure
- Theft / malicious damage
Electronics less than seven years old:
If this insured property is totally lost or destroyed, the basis of settlement will, where possible, be the cost of replacing new property of equal performance, but not exceeding the sum insured on such property.
Electronics over seven years old:
If this insured property is totally lost or destroyed, the basis of settlement will be the market value of the property immediately before the loss or damage, but not exceeding the sum insured on such property.
Theft from buildings and vehicles:
Cover of insured property is subject to certain conditions, example:
- Claims require proof of forcible and violent entry;
- Property must be secure inside a vehicle compartment and not visible to passers-by.
Please note:
- Always insure all goods for the new replacement value. The sum insured must include all
software, upgrades and accessories. - This electronic equipment cover is NOT a maintenance policy, and wear and tear is excluded.
- Further cover is available and recommended for the cost of reinstating data following a loss.
