Electronic Equipment Insurance Policy

Electronic Equipment Insurance Policy

Features & Benefits

Requirements
In this modern age where businesses rely on technology, protecting computer and electronic equipment has become essential. From broadcasting to viewing online media, from innovative breakthroughs to executing every day work tasks, the reliance on technology and electronic equipment is huge.

If these were to get damaged or malfunction, the consequences would have a huge impact on the business. Our Electronic Equipment Insurance (EEI) ensures that the electronic equipment at your workplace is completely secured.

Benefits
Our Electronic Equipment Insurance policy is specifically designed to provide complete cover to electronic equipment in case of breakdown or damage. Being an All Risk Insurance, this provides complete cover except for the perils specifically excluded from the policy. The policy covers the high costs of repair or restoration of the damaged equipment, or its replacement thereof to ensure business continuity at a marginal cost.

Sum Insured
The sum insured is equivalent to the replacement value of the electronic equipment inclusive of the total of duties paid, freight charges and erection costs.

Premium
The premium amount to be paid depends on the type of equipment insured.

Coverage

Eligibility
Liberty General Insurance Electronic Equipment Insurance policy is for:
The owner of the equipment
Lessor /Lessee i.e. leasing the equipment
A group of different parties with financial interest in the equipment such as bankers or financiers

Policy Inclusion
Our Electronic Equipment Insurance will protect the following list of electronic equipment:
Electronic data processing machine
Telecommunication equipment
Transmitting and receiving installations (including radio, TV, cinema sound reproduction and studio equipment)
Material testing and research equipment
Electro-Medical Installations
Signal and transmitting units
Office calculators, duplicating machines and reproduction machines
Control and supervisory units

The policy cover can be extended on payment of additional premium to cover the following risks:

Escalation
Your property surrounding the insured equipment
Third party liability
Express freight, overtime, holiday wages etc.
Air freight
Additional customs duty
Terrorism

Policy Exclusion
This policy has named excluded perils or specific risks which will not be covered under the policy.

The policy exclusions/risks are:
War and nuclear disasters
Damage due to overload
Wear and tear
Willful act of damage
Gross negligence
Pre-existing defects known to you