Electronic Equipment Insurance Policy

This Policy covers entire range of Electronic Equipment's such as Personal Computer, Micro-processor, Telecommunication Equipment's, Audio / Visual Equipment's and sophisticated gadgetry.

Scope of cover:

Section I: Any unforeseen and sudden physical loss or damage to electronic equipment's from any cause, other than the exclusions.
Section II: External data media and the expenses for reconstruction and re-recording of information.
Section III: Increased cost of working.

Exclusions:

Transit risks from site to site.
Electrical & mechanical breakdown.
Freezing of coolant or other fluids, defective lubrication, replaceable parts.
Explosion due to steam pressure in I.C. engine.
Wear and tear, rusting, testing for other purposes.
War and nuclear perils.
Pre-existing defects at inception.
Willful act/negligence of insured.
Consequential loss/liability, inventory loss..
Cost of alteration, improvement, overhauls, modifications, additions, material changes.

Exclusions to Section I:

Pre-existing faults or defects.
Normal wear and tear, erosion, corrosion, encrustation.
Any costs incurred in connection with the elimination of functional failures unless such failures were caused by an indefinable loss or damage.
Maintenance cost of the insured items.
Loss or damage to objects made of glass, porcelain or ceramics, sieves or any operating media.
Aesthetic defects such as scratches on painted or enameled surfaces.

Exclusions to Section II:

Costs arising from false programming, punching, labeling or inserting, inadvertent canceling of information or discarding of data media, and from loss of information caused by magnetic fields.

Exclusions to Section III:

Costs for replacement of data media, data and regeneration of data.

General Exclusions:

Terrorism.
War and nuclear risk.
Willful act or negligence.
Partial or total cessation of work.
Loss or damage to the property falling under the terms of the Maintenance Agreement.
Loss or destruction or damage directly occasioned by pressure wave caused by aircraft and other aerial devices.
Consequential losses.
Gradual deterioration due to atmospheric conditions.
Faulty design.
Contractual liabilities.
Cost or replacement / repair or rectification of defective material and / or workmanship.

Specific Exclusion:-
War, Invasion, Act of foreign Enemy, Hostilities or War Like operations (whether war be declared or not), Civil War, Rebellion Revolution, Insurrection Mutiny, Civil Commotion, Confiscation, Commandeering a Group of Malicious persons or persons acting on behalf of or in connection with any political organization, requisition or destruction or damage by order of any government de-jure or de-facto or any public, municipal or local authority