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National Industrial Insurance |
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Electronic Equipment Insurance
Salient Feature
This is issued on All Risk basis to cover computers, bio-medical equipment, X-ray equipment, Audio/Video equipment, micro processor equipment etc. Rates are terrified.
Scope of Cover
a) COMPUTERS
This policy comprises of 3 sections.
SECTION I :
Deals with the hardware e.g. Computer main body.
Extra covers are available for overtime, night works, and work on public holidays by charging additional premium. Issued along with Maintenance Agreement clause. Terrorism risk is also covered
SECTION II :
Covers external data media or E.D.P. The sum insured shall be the cost of the data media plus charges for producing the information.
SECTION III :
Covers increased cost of working : (loss of profit policy)
SUM INSURED :
Present day Replacement Value of computer plus that of central processing unit, printer, stabiliser, and U.P.S. if any.
RATE :
Section I and Section II @ 1.00%
If Annual Maintenance Agreement is not executed the premium will be loaded by 100%. If annual maintenance agreement is not executed but the insured has got sufficient in-house facilities for proper maintenance of the equipments, the premium will be loaded by 50% only.
For Training purposes :
• Rate 1.25% for computers with twice the excess if with Maintenance Agreement.
• Rate 2.50% for computers with twice the excess if without Maintenance Agreement.
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