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.
Wear and tear
War and nuclear group of perils
Willful acts or willful negligence
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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