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Electronic equipment is a large part of a company’s capital and is an important factor in any business. There is no business today that has not invested in electronic equipment and is not dependent on electronic systems, which are necessary for any job.

Electronic Equipment Insurance is specially designed to cover risks for any kind of unexpected and sudden damage that may occur to the electronic systems of your business.

To whom it is suitable:

Electronic Equipment Insurance is suitable to any business whose operation depends on computers and other electronic equipment, such as:

  • Doctors’ practices with medical equipment and electronic equipment
  • Private hospitals and clinics
  • Diagnostic centers (magnetic and CT scanners)
  • any business with computers, and servers
  • Photosynthesis and graphic arts systems
  • Telecommunications facilities
  • Radio and television studio equipment
  • TV and radio stations
  • Accounting and law firms that store customer data on computers

What Electronic Equipment Insurance Covers?

Electronic Equipment Insurance is an insurance policy for all risks where coverage is provided for unforeseen and sudden damage to any type of electronic equipment, whether it is in operation or not. This insurance provides coverage against all risks, and is therefore activated by any unforeseen event, except in cases expressly excluded in the insurance policy.

There is a wide range of risks that may arise during operation and during the assembly/disassembly of the equipment, such as, indicatively, and not restrictively, damage from:

  • Fire, lightning,
  • Short circuit
  • Smoke, soot, theft
  • Explosion, moisture, water,
  • Aircraft crash
  • Weather phenomenon
  • Accidental fall and breakage
  • Faults during operation
  • Malicious actions,
  • Strikes, harassment
  • Incorrect handling
  • Malicious employee or third-party energy

In addition, the insurance can also cover:

  •  Data recovery costs lost due to failure.
  • Increased operating costs of the company (e.g. renting electronic systems until the repair of the insured equipment, so that the company continues to operate.
  • Risks due to air conditioning failure.

Insured Amount: 

The sum insured must represent the replacement value of the insured machines with new ones, i.e. with the value of new machines of the same capacity and the same type.

Damage not covered by:

  • Normal wear (corrosion)
  • War, rebellion, or revolution
  • Riots, strikes, political unrest, requisition
  • Nuclear reactions
  • Defective design or material for which the supplier is responsible by law or contract
  • Damage resulting from fault or interruption of water or electricity supply
  • All those damages that do not exceed the exemption specified in the contract
  • Aesthetic defects & maintenance costs of machinery
  • Severe negligence (deceit)

How much does it cost? 

The premium is on a case-by-case basis and is calculated as a percentage of the insured capital. It depends mainly on the type of machinery, the age, the use, the location of the risk, how much the electronic machines are at risk, and the deductible amount.

The information above may vary from Insurance Company to Insurance Company. Depending on the Insurance plan we will propose, we will give you all the relevant information required by the legislation so you can make your decision. Ask us today for an offer and, we will choose the most suitable package for your needs and budget.

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