Protecting Company Electronics – Why Electronic Equipment Insurance Matters
These days, organizations are becoming increasingly dependent on electronics to survive and compete. From the computers you use in the office, to the cell phones staff use out in the field or the electronic cash registers and card readers you use to take payment, every business is reliant on electronics of one kind or another.
When it comes to business insurance, most companies focus on liability insurance and protection from lawsuits made against them. They do not, however, focus so much attention on specialist insurance products that are designed to cover all the electronics that are used every single day.
As a leading provider of business insurance here in Florida, Insurance Simple can recommend some of the best coverage to protect your electronics from theft or damage.
Choosing the right corporate electronic device insurance plan requires careful research to ensure that you get the right level of coverage for your business. Valuable electronic devices such as laptops, smartphones, iPads, and digital cameras are often used both in the office and taken away from your business premises by your employees – so you will need to find coverage that works at any location.
What is Electronic Equipment Insurance?
Electronic Equipment Insurance provides comprehensive cover for unforeseen and sudden physical loss or damage to the electronic equipment and data media. This damage must occur due to a peril that is not specifically excluded under the policy.
What items are covered?
Although individual insurance policies will differ slightly from one provider to the next, they are designed to protect your business should your electrical equipment breakdown.
The insurance product should cover the cost to repair or replace your equipment, as well as other costs involved in getting your business operational again. Most standard coverage will include:
- Coverage for a variety of equipment including computers, laptops, cell phones, audiovisual equipment and even medical equipment.
- Equipment you own outright as well as equipment that you hire from an external third party
- The coverage should also include a provision for loss of any data your business needs in order to remain operational
Your computers and electronics will automatically be covered, but you should also look for a product that offers protection against loss of business income in case you are unable to operate due to equipment failure or loss. If this is not included in your electrical equipment insurance, you may be able to purchase additional coverage via a business interruption policy.
Why Should I Worry About Insuring the Electrical Equipment in My Office?
It’s not just the cost of repairing or replacing any electrical equipment if it becomes broken or stolen that you need to consider, it is also the possibility of how far-reaching the effects of the same could be to your business.
If, for example, you lose your customer database, or are unable to fulfill orders, you could put your entire operation in jeopardy when a single computer system goes down. In order to protect yourself against loss of income, and be assured that should the worst happen, your insurance provider will step in to get you back up and running as a matter of urgency?
Business Insurance from Insurance Simple
If you would like to find out more about the various types of cover available for your Florida business, speak to our helpful and knowledgeable agents today at 5613143566.