Electronic Equipment used in various industries and offices are exposed to risks of unforeseen and sudden causes resulting in loss or damage. Such losses may be repairable or may sometimes need replacement.
Electronic Equipment insurance is designed to provide coverage for protection against loss and damage from “all risks”, to specialized electronic equipment such as computers, x-ray machines, communication facilities, studio equipment and other data processing machines.
Policy applies to the insured items 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 aforesaid operations, or during subsequent erection after commissioning.
Loss to assured’s electronic equipment against any unforeseen and sudden events is covered for:
- Damage to hardware
- Damage to software and data media
- Cost of restoration of information data
- Increased cost of working
- Normal wear and tear
- War, terrorism and sabotage
Period of Insurance
The coverage is usually provided for a period of one year.
Basis of Sum Insured
Sum insured for this insurance should be the replacement cost including freight, duty, cost of erection and other dues.
A monetary and time deductible for each and every loss under the policy is always applicable.
Premium rates are based on:
- Replacement value of equipment
- Type of Machinery
- Age of the machinery
- Maintenance history
- Use of the machine
- Cost for restoration of data
- Limit for increased cost of working
- Time for repair or replacement of the damaged equipment
- Policy deductibles
- Professional experience of the assured
- Type of industry where equipment is being used
- Experience of the industry
- Standard of the management
Please note that for the easy understanding of the insurance policy, we have highlighted the important aspects. We will be glad to receive your queries and discuss the full set of policy terms, conditions and exclusions.
For more information, please contact Nasco Gulf at +971 4 351 8610.
Basis of Claim Settlement
The indemnity under the policy is for replacement or repair of the damaged equipment.
If the sum insured is found to be inadequate, the policy will pay in such proportion as the sum actually insured bears to the sum actually should have been insured.
You must alert us of any accident that may lead to a claim covered under the policy, and our team of experts will assist you in the quick settlement of the claim.
Call us as soon as possible, in case of an accident, and our team of experts will guide you through the claim process. For more information, please contact Nasco Gulf at +971 4 351 8610