The electronic equipment insurance policy is an all risk policy designed for computers, medical, biomedical, microprocessor, and audio/visual equipment including the value of system software.
The policy is specially designed for electronic equipment and consists of three sections out of which sections II and III are optional.
Section 1(Material Damage Section covering equipment): 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 (External Data media): 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 (Increased cost of working): Covers increased cost of working.