What is Electronic Equipment Cover?
Many small businesses in New Zealand rely heavily on electronic equipment to get the job done each day. You might rely on a Point of Sale system, printer, cash register, physical servers, computers and laptops, or an RFDI system. If any of your electronic equipment were to be out of commission for a few hours or even days, your business operations could grind to a halt. This could cost you dearly, and it may mean that you are unable to reach deadlines.
Electronic Equipment*
Electronic equipment insurance covers the cost to repair or replace specified electronic equipment following a breakdown. You can also choose to insure the additional costs to your business or business interruption expenses caused by a breakdown of electronic equipment.
Did you know?
You can usually select the following types of cover:
- BREAKDOWN (ie sudden and unexpected electronic, electrical or mechanical failure of electronic equipment, arising from internal defects causing sudden stoppage, which requires repair or replacement to enable normal operation to continue)
- RESTORATION OF ELECTRONIC DATA (ie the discs or tapes used in the computer to store the electronic data)
- ADDITIONAL INCREASED COST OF WORKING
- You will also generally have a responsibility to:
- Take all reasonable steps to minimise the extent of the loss
- Preserve any damaged or defective electronic equipment and/or electronic data and make them available to the insurer for inspection