Electronics insurance covers damage that can occur to electronic devices that have electronic components. Theft, destruction and damage caused by an unforeseen event are covered. An unforeseen event can be, for example, fire damage, water damage or sabotage. The insurance also covers damage arising from construction and material defects result.
The benefits of electronics insurance
Taking out electronics insurance is very important, especially for companies. Office, administrative, commercial and commercial companies in particular should not do without taking out electronics insurance for an insured sum of up to one million euros.
Companies whose day-to-day work is heavily dependent on functioning technology, need reliable insurance coverage. This applies, for example, to the following companies:
- IT company
- Office, commercial and administrative companies
- Medical practices with high-quality medical equipment
- Video or music production company with exclusive equipment
In modern companies, electronic systems and devices are used every day. The technology is usually very expensive. If this fails, the entire process in operation can be disrupted. This can cause high costs. An example: If a company's EDP was willfully hacked, it is usually no longer fully operational. Offers, orders and sensitive customer information can no longer be accessed. Thanks to electronics insurance, entrepreneurs are very well protected in such a case: the insurance covers all replacement and repair costs.
What is covered?
Most electronics insurance is comprehensive all-risks insurance. Policyholders benefit from excellent protection. With a few exceptions, all damage and destruction are covered. These include in particular:
- Operating errors (e.g. due to clumsiness)
- wantonness
- Defects in construction, material or workmanship
- Power problems (such as overcurrent, overvoltage, or a short circuit)
- Fire damage, lightning, explosions
- the impact or crash of an aircraft
- Implosions, smoldering, glowing, scorching
- Wet and moisture damage
- Storm, flood, frost and ice
- all kinds of theft, pillage as well as robbery
Possible types of insurance cover
There are basically two different ways to take out electronics insurance. On the one hand, this can serve as a supplement to business contents insurance. On the other hand, the insurance can be taken out as so-called all-risk insurance.
There are numerous providers of electronics insurance in Germany. The individual tariffs can differ greatly from each other. For this reason, interested parties should definitely compare as many offers as possible before taking out electronics insurance. The offers can usually be requested conveniently online. Before the insurance contract is signed, every company should check exactly what services it needs as part of the insurance cover.
If you need help with the needs analysis, you can easily contact an independent insurance expert.
The costs
Electronics insurance costs can vary widely. Depending on the type of business and the equipment to be insured, insurance prices can be higher or lower. In order to determine what policyholders have to pay and which insurance offers excellent value for money, interested parties should have a tailor-made insurance comparison sent to them before signing the contract.
The sum insured is always individual and always depends on the replacement value. In order for an insurer to be able to calculate the sum insured, it is sufficient if potential policyholders specify all electronic devices and systems. An individual listing is not necessary. All new purchases are always free of charge and are also insured in the form of a provision insurance up to a maximum of 30 percent of the total sum insured. During the term, the contract details can usually be flexibly adjusted. This is necessary, for example, if there are significant changes, for example in relation to the value of the equipment and systems to be insured.
Electronics insurance for private individuals
Just like companies, private individuals can also take out electronics insurance. Although household contents insurance also protects private EDP and television sets, household contents insurance only pays for burglary and damage caused by mains water and fires. Anyone who owns particularly expensive electronic devices should consider taking out electronic insurance. Unlike household contents insurance, this insurance also covers damage that you are responsible for (e.g. due to operator error). The insurance cover includes:
- theft and robbery
- Carelessness
- breakage and display damage
- Operation error
- short circuit and overvoltage
