Electronic Equipment Insurance

This policy provides coverage under three sections
Section 1: Equipments

• Covers any unforeseen and sudden physical loss or damage to electronic equipments.

Section 2: External Data Media

• Expenses incurred within 12 months from the date of occurrence of loss, necessary for restoring the insured data media to pre-accident condition is covered.

Section 3: Increased Cost of Working

• Covers all additional costs incurred to ensure continued data processing on substitute equipment.

Electronic Equipment Policy Exclusions

Major exclusions under this policy include:

• Pre-existing faults or defects, normal wear and tear, erosion, corrosion, etc.

• Costs towards elimination of functional failures unless such failures were caused by an indemnifiable loss or damage to the insured items.

• Maintenance cost of the insured items

• Loss or damage to objects made of glass, porcelain or ceramics, sieves or any operating media

• Aesthetic defects such as scratches on painted or enameled surfaces

• Costs arising from false programming, punching, labeling or inserting, inadvertent cancelling of information or discarding of data media, and from loss of information caused by magnetic fields.

• Costs for replacement of data media, data and regeneration of data.

Loss or damage due to:

• War and nuclear risks

• Willful act or negligence

• Partial or total cessation of work

• The property falling under the terms of the maintenance agreement.

• Pressure wave caused by aircraft and other aerial devices, if the direct cause of the destruction, loss or damage.