This cover is suitable for electronic items usually to be found in an office environment or in hospitals etc, electronic items that are not to be found in heavy industrial set ups. These will include computers, medical equipments (X-rays, radiology, weighing scales etc), microscopes, PABX and other equipments.
Causes of the loss will include;
In case of computers, the policy can also be extended to include costs of replacing lost or damaged external data media and costs of reproducing lost data. Any increased costs of working as a result of the loss or damage can also be recovered under the policy.
The policy will operate when the insured items are at work or at rest, or being dismantled for the purpose of cleaning, overhauling or being shifted within the premises, or in the course of the functions themselves. Usually a premises cover but can be extended to cover temporary transits away from the premises.
Results
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Section I - Material Damage:
Section II - External Data Media:
Section III - Increased Cost of Working:
Yes, the policy covers power surge effects but is subject to the Lightning and Overvoltage clause.
Electronic equipment depreciates every year at a certain percentage and the equipment may become obsolete when it can no longer be used because of the availability of new products which are faster, better, and cheaper.
The number of days of interruption which has to be borne by the Insured in the event of a loss.
No, the policy extends to cover loss or damages caused by either fire or burglary.
While on replacement, but on reinstatement for items below 3 years.
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