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electronic equipment insurance

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Expensive, fragile, vulnerable…critical. Makes you think how your business would run without electronic equipment. The world today is increasingly more interconnected and the electronics revolution has been at the forefront, dramatically changing the way you work and do business. You know how dependent you are on electronic data and equipment to help run your organisation effectively and give you the competitive edge. Just imagine the consequence if anything happened to that data, or your computers and other electronic equipment were irreparably destroyed. The answer lies in HDFC ERGO General Insurance Company's Electronic Equipment Insurance Policy. It's just the safeguard you need to cover the assets so vital to keeping your business functioning smoothly.

Scope of Cover:

The policy provides comprehensive coverage for your electronic equipment. It includes physical loss or damage to all electronic equipment and data media, as well as the increased cost of working resulting from an accidental and unforeseen physical loss or damage to the electronic equipment.

Significant Exclusions:

The policy does not cover any losses or damage due to wear and tear, war, willful acts or willful negligence, aesthetic defects and consequential loss.

Sum Insured::

    Equipment: New replacement cost of the insured property including freight, erection cost and customs duty, if any.

    External Data Media: Cost of restoring the external data media by replacing lost of damaged data media with new material and lost information.

    Increased Cost of Working: The Sum Insured should represent the hiring charges per hour for substitute equipment to ensure continued data processing for the period of indemnity specified, including personnel and transportation charges.

Premium:

The rate of chargeable is 1% of the equipment insured. You need to have a valid maintenance agreement in force for all your electronic equipment, personnel computers below Rs.100,000 exempted , or a 100% loading will be levied as per tariff.

Excess:

The policy is subject to a compulsory excess which depends upon the value of the equipment insured. A separate excess applies to Winchester Drive. Opting for a higher voluntary excess qualifies for a discount on the premium payable.

Extensions:

For a nominal additional premium, the policy can be extended to cover risk of terrorism.

Download Proposal form   (DOC 435 KB)

Download Claim form   (DOC 435 KB)

For more information, please write to us at care@hdfcergo.com. You can also contact us on our Toll Free No. 1800-2-700-700.

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