Electronics Equipment Insurance
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This covers your insured computers or other insured electronic equipment against loss, damage or breakdown as defined under the policy. Electronic Equipment Insurance mainly covers material damage caused by the operation, electric energy problems (short circuit, excess voltage or induction), human error (faulty operation, lack of skill, negligence), and by the manufacturer (faulty design, defects in material, faults at workshop, faults in an erection).
Electronic equipment is not only more susceptible to damage but also expensive and cannot be easily replaced. Your home policy should also protect against the loss of your electronic devices due to burglary and theft. Therefore, while getting home insurance, check if the policy coverage protects you from any accidental damage to your electrical and electronic appliances.
Benefits of Electronic Equipment Insurance
By taking advantage of electronic equipment insurance, you can benefit in the following ways:-
Comprehensive coverage will be available against accidental damage from lightning, fire, flood, earthquake, etc.
Theft or burglary coverage will also be available
Claim processing will be easy and hassle-free, with round-the-clock support, seven days a week.
The installment will be affordable and high coverage
By securing your equipment, you can ensure your peace of mind
What are the inclusions covered by the electronic equipment insurance policy?
The electronic equipment policy covers all accidental damage and natural disasters such as fire, lightning, explosions, war damage, hurricanes, earthquakes, floods, ground vibrations, rockslides, etc.
Electrical and mechanical failures
Any damage to electronic equipment due to any electrical or mechanical failure is covered.
Compensate for the loss of external data stores such as hard disks etc. that occur as a result of covered events as mentioned before.
The cost of recovering data lost as a result of covered incidents.
Repair and replacement of damaged devices as a result of damages covered in the document.
Coverage is provided for damaged parts, devices, and spare parts.
What are the exclusions not covered by electronic equipment insurance?
The policy usually does not cover damages to electronic equipment as a result of willful negligence, so there are some exceptions imposed by electronic equipment insurance policies as follows:
Floods: Damage caused by any flooding caused by climate change.
Discounts: Any applicable discounts are excluded in accordance with the policy.
Profits: Loss of profits or indirect damage of any kind is not covered.
Some expenses: Architects, surveyors, or consulting engineers fees (which are in excess of 3% of the claim amount) will not be covered.
Debris residues: The document will not cover the removal of debris in place of electronics.
Rent: Rental loss is not covered.
Additional Expenses: The electrical equipment insurance policy does not include additional expenses resulting from renting alternative accommodation.
Damages occurring after expiry: The policy does not cover any damages that occur during the period outside the insurance period.
In today's world, electronic tools such as computers, laptops, iPads, and tablets are part of every family, in addition to these devices, there is a special part of the house and of course, no home can work efficiently without it, such as refrigerator, washing machine, air conditioners, etc., so the policy of securing electronic equipment is a necessity that protects you and your family from any losses that you may suffer if these devices are damaged as a result of unexpected accidents.