Electronic Equipment Insurance Policy

  • Buy Electronic Equipment Insurance Policy in India

In  this  age  of  technological  advancement,  dependence  on  electronic  data  and  equipments like laptops, desktops, servers, diagnostic equipments etc. has greatly increased. A loss or damage to such equipments will have a resounding financial impact on the health of the business. Just  imagine  the  consequences  if  anything  happened  to  that  data,  or  your portable electronic equipment and other electronic equipment were irreparably destroyed. An Electronic Equipment Insurance Policy provides comprehensive coverage  against unforeseen and sudden physical loss or damage to the electronic equipment and data media that occurs owing to perils other than those specifically excluded under the policy. Additionally a Portable Electronic Equipment policy covers accidental damage and breakdown including fire, theft, robbery and malicious damage to new portable electronic equipments

Scope of cover

This policy provides coverage under three sections:

Section 1: Equipments

  • Covers any unforeseen and sudden physical loss or damage to electronic equipments.

Section 2: External Data Media

  • Expenses incurred within 12 months from the date of occurrence of loss, necessary for restoring the insured data media to pre-accident condition is covered.

Section 3: Increased Cost of Working

  • Covers all additional costs incurred to ensure continued data processing on substitute equipment.

Major Exclusions

  • Wear and tear
  • War and nuclear group of perils
  • Willful acts or willful negligence
  • Aesthetic defects
  • Consequential loss
  • Pressure wave caused by aircraft and other aerial devices
  • Costs arising from false programming, punching, labeling or inserting, inadvertent cancelling of information or discarding of data media, and from loss of information caused by magnetic fields.
  • Costs for replacement of data media, data and regeneration of data.

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