Electronic Equipment

Complete protection against fatal error messages!

All your control, computational, and data processing electronic equipments are machine-critical in your business. Your company has invested much time and money in selecting and deploying these systems and in data storage, and this is why you need to protect them from various types of risks. You can do this easily and comprehensively with the Bharti AXA Electronic Equipment Insurance Policy.

A large volume of materials and finished goods are transported over water/air/road/rail. Bharti AXA has Insurance schemes to cover the eventuality of losses or damage to marine shipments.

Presenting the Electronic Equipment Insurance Policy

This is a comprehensive policy designed for various types of electronic equipment such as computers, microprocessors, industrial electronics and audio/visual equipment including the value of systems software.

What does this policy cover?

The policy provides comprehensive coverage against unforeseen and sudden physical loss or damage to the electronic equipment and data media that occurs owing to perils other than those specifically excluded.

The coverage is available under three sections:

• Material damage (equipment)
• External data media, including information stored thereon and
• Increased cost of working resulting from accidental loss and/or damage to

What is the sum insured?

The sum insured shall be equal to its replacement cost, including freight, dues and customs duties, if any, and erection costs.

External data media

The sum insured shall be the amount required for restoring the insured external data media by replacing lost or damaged data media by new material and reproducing lost information.

Increased cost of working

The sum insured should represent the rental charges for substitute equipment to ensure continued data processing for the specified indemnity period, including personnel and transportation charges.

Basis of compensation

• In cases where damage to an insured item can be repaired, the company will pay expenses towards restoring the damaged machine to its former state of serviceability plus the cost of dismantling and re-erection, as well as ordinary freight to and from a repair shop, customs duties and dues.
• In cases where an insured item is destroyed, the company will pay the actual value of the item by deducting proper depreciation from the replacement value of the item, including costs for ordinary freight, erection, customs duties and charges for dismantling, after taking into account the salvage value.
• • If the insured electronic equipment is, at the time of any loss or damage, of greater value than the sum insured chosen, then the compensation payable shall be reduced proportionately.

How is the premium charged?

The premium payable is as per the company's premium schedule and is dependent on factors such as, type of equipment, availability of Annual Maintenance Contract, number of sections opted in the policy, etc..

What does this policy not cover?

The policy does not cover any loss or damage due to

• War or warlike operations
• Nuclear perils
• Wilful act or wilful negligence
• Wear and tear or gradual deterioration due to atmospheric conditions
• Aesthetic defects
• Consequential losses