Property and Misc Insurance

Electronic Equipment

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
  • Premium depends upon value, nature and use of equipments including maintenance agreement and provisions of equipments.
  • The policy is subject to a compulsory excess which depends upon the value of the equipment insured. A separate excess applies to Winchester Drive.
  • The policy does not cover any losses or damage due
    • Wear and tear
    • War and nuclear group of perils
    • Willful acts or willful negligence
    • Aesthetic defects
    • Consequential loss
    • Pressure wave caused by aircraft and other aerial devices