In today’s world, the electronics and information revolution has changed the landscape
of the industry. It has dramatically changed the way business is done. Data, analytics,
electronic equipment is a vital component in giving you the competitive edge in
business.
Just imagine the consequences if anything happened to that data, or your computers
and other electronic equipment were irreparably destroyed.
HDFC ERGO’s Electronic Equipment
Insurance Policy is the safeguard you need to cover
the assets so vital to keeping your business functioning smoothly.
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.
For a nominal additional premium, the policy can be extended to cover the risk of
terrorism.
- 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 or 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
The rate chargeable is 1% of the equipment insured. You need to have a valid maintenance
agreement in force for all your electronic equipment, personal computer ,value of
which, if below Rs. 100,000 is exempted, or a 100% loading will be levied as per
tariff.
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 you for a discount on the premium payable.
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.