Electronic Equipment Insurance Policy
Electronic Equipment Insurance protects businesses against financial losses resulting from damage, breakdown, or loss of electronic equipment and machinery. It provides coverage for repair or replacement costs, business interruption losses, and other expenses incurred due to sudden and unforeseen incidents affecting electronic devices and systems.
Add-On
Business Interruption - Coverage for financial losses resulting from the interruption of business operations caused by damages or breakdowns of electronic equipment.
Data Recovery and Restoration - Coverage for expenses incurred in recovering and restoring lost or damaged data stored on electronic devices and systems.
Temporary Equipment - Coverage for renting or leasing temporary electronic equipment to minimize business disruptions during the repair or replacement process.
Extra Expense Coverage - Reimburses the insured for additional expenses incurred in maintaining business operations or mitigating losses resulting from damages or breakdowns of electronic equipment.
Exclusions
1. Damages resulting from gradual wear and tear, deterioration, or aging of electronic equipment and machinery over time.
2. Damages resulting from negligent operation, improper maintenance, or misuse of electronic equipment by the insured or employees.
3. Damages or breakdowns caused by pre-existing defects, flaws, or deficiencies in electronic equipment known to the insured prior to the policy inception.
4. Damages resulting from acts of war, terrorism, political violence, or civil unrest.