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Electronic Equipment Insurance Coverage for Your Home

In today’s world , gadgets like laptop, computers, iPads, tablets are part of every household. And of course, no household can run efficiently without a refrigerator, a washing machine, air conditioners etc. While we all ensure handling any electronic equipment needs is done with utmost care,, accidents and unforeseen incidents do happen. In order to be prepared for such losses one must ensure that all essential electronic equipments/ gadgets stand covered under the home insurance policy.. After all, a breakdown or damage of any such device can burn a huge hole in your pocket.

Electronic equipments are not only more susceptible to damage, but also expensive and not easily replaceable. Your home policy should also protect your electronic equipment loss due to Burglary & theft. So, while taking a home insurance, check if the policy coverage protects you against any accidental damage to your electrical and electronic devices.

Benefits

By availing insurance for electronic equipment insurance,you can benefit in the following ways:-

  • Comprehensive coverage will be available against accidental damage resulting from lightning, fire, flood, earthquake etc.

  • Coverage against theft or burglary will be available too

  • Claims processing will be easy and hassle-free, with 24/7 support.

  • The premium will be affordable and coverage high

  • By insuring your equipment, you can ensure your peace of mind


What's Included?

Fire
Fire

Coverage against all accidental damages and natural calamities like fire, lightning, explosion, war, cyclone, earthquake, flood, landslide, rock slide etc.

Electrical and mechanical breakdown
Electrical and mechanical breakdown

Any damage to your electronic equipments due to any electrical and mechanica breakdown is covered.

Data loss
Data loss

Loss of external data drive like tapes, discs, hard drives etc. caused accidentally, as mentioned above

Restoration
Restoration

Cost of data restoration is covered here

Replacement
Replacement

Coverage is provided for repair and replacement

Parts
Parts

Coverage provided for parts and fittings

What's not Included?

Wilful negligence
Floods

Damage resulting from any flooding caused by climate change

Deductibles
Deductibles

Any applicable deductibles as per the policy are excluded

Earnings
Earnings

Loss of earnings or indirect damage of any kind is not covered

Fees
Fees

Fees of architects, surveyors or consulting engineers (in excess of 3% claim amount) won’t be covered

Debris
Debris

The policy will not cover debris removal

Rent
Rent

Loss of rent is not covered

Additional Expense
Additional Expense

Additional expenses due to renting of an alternative accommodation are not included

Lapsed Policy
Lapsed Policy

Any damages that occur outside the insurance period are not covered

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All the support you need 24x7

We understand that in times of distress, instant help is the need of the hour. Our in-house claims team provides round the clock support to ensure a hassle-free claim experience. We ensure to be your constant support system in times of need.
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Catering to customer needs

Since, last 20 years, we have been catering to endless customer requirements seamlessly, by providing a wide range of plans and add on covers for every portfolio.
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Why HDFC ERGO?

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.
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Why HDFC ERGO?

Awards

HDFC ERGO has won under “Claims and Customer Service Excellence” category at FICCI Insurance Industry Awards, 2021.
Why HDFC ERGO?
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Secured #1.5+ Crore Smiles

Trust redefines relations at HDFC ERGO. We consistently strive to make insurance easier, more affordable and more dependable. Here promises are kept, claims are fulfilled and lives are nurtured with utmost commitment.
awards

All the support you need-24x7

We understand that in times of distress, instant help is the need of the hour. Our In-house claims team provides round the clock support to ensure hassle-free claim experience. We ensure to be your constant support system in times of need.
awards

Catering customer needs

Since, last 20 years, we have been catering to endless customer requirements seamlessly, by providing wide range of plans and add on covers for every portfolio.
awards

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.
awards

Awards

HDFC ERGO has won under “Claims and Customer Service Excellence” category at FICCI Insurance Industry Awards, 2021.

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Frequently asked questions

Once the claim is registered and required documents are submitted, a surveyor is appointed to verify the details and submit the report. Upon receiving the report and if the report is satisfactory, the claim amount is calculated and paid to the policyholder.
In general, 30 days are required from the date of submission of the claim documents, to release the settlement
The documents required are
  1. Duly-filled claims form
  2. Photocopy of the insurance policy
  3. Details of the equipment insured
  4. Copy of the maintenance agreement
  5. Bills and documents of any repair work carried out
The term electronic equipment is used to refer to all those devices which require voltage and power to operate. These generally include TV, computers, laptops, CPU etc.
The sooner you inform, the better it will be. However, make sure that you inform in writing within 14 days from the date of loss/damage.
The electronic equipment policy is renewed annually.
Yes, you can cancel or terminate your policy anytime. Simply inform in writing and your request will be processed. Your premium, if paid, will be refunded.

The premium is calculated based on the sum insured. The sum insured, on the other hand, is calculated based on the following factors –

● The equipment to be insured

● The age of the equipment

● The aggregate value of the electronic equipment

The sum insured is considered to be the total cost of replacing the damaged or stolen equipment with other equipment of the same model and condition.

Once the sum insured is determined, the premium is calculated. It is calculated as Rs.15 per mile of the sum insured. The maximum Sum insured can be upto 30% of Home Content Sum insured. The plan also offers additional worldwide coverage for your portable electronic equipment. If you opt for this coverage, the premium is increased by 10%.

You can renew your electronic equipment cover annually if you want. In many instances, HDFC ERGO Home Shield Insurance also offers continuous coverage for up to 5 years. This allows you to enjoy uninterrupted coverage without renewing the policy every year.
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