Electronic equipment such as Computers, Laptops, Medical, Bio-Medical, Micro Processors, Audio-visual equipments etc. can be covered under Electronic Equipment Insurance.
Coverage for electronic equipment is provided under Three Sections:
Section I – Material damage
Covers the insured electronic equipment against any unforeseen and sudden physical loss or damage from any cause other than those specifically excluded under the Policy, in a manner necessitating repair or replacement.
It is a condition that Sum Insured should represent the New Replacement Values.
Section II – External data media
if the external data media inclusive of the information stored thereon, which can be directly processed in EDP systems, suffer any material damage indemnifable under Section I, the company will indemnify the insured not exceeding the sum insured.