Electronic Equipment Insurance

This insurance policy covers all risks and damages to different types of electronic equipment, which are used in industrial workshops, industries, medical and laboratory equipment, office equipment, alarm systems, hospital equipment, control equipment, equipment related to cinema and filming, materials testing equipment, computerized receiving and sending equipment, and so on. Many factors such as risks due to cleaning the devices, inspection during work, electricity fluctuations, theft, fall, displacement, fire, earthquake, storm and flood that may threaten this type of equipment, are all covered under this insurance policy. This insurance policy includes the following parts:

  • Part 1: Hardware

  • Part 2: Software

  • Part 3: Additional expenses

All of the above insurance policies are issued based on insurance principles and regulations and have their own appropriate franchise. Each of the insurance policies has their own special exceptions and conditions and it is possible to obtain additional insurance policy for some exceptional cases by payment of additional insurance premium at the time of issuance of insurance policy.
In addition to compensating for damages, the insurance industry helps the country’s economy by providing immunity recommendations through inspection of insurance experts in order to prevent damage or minimize the damages.
The Bushehr atomic power plant, the giant Sugarcane development project and its affiliated industries, Karkheh dam, Karoon 1 and Karoon 3 dams and hundreds of other projects such as the telecommunications Milad Tower in Tehran, are among the giant financial projects that have been insured by Bimeh Iran (Iran Insurance Co.) based on All Risks Engineering Insurance.

Despite their small size, electronic equipment often have high values; they are vulnerable too. In order to cover the damages on these sorts of equipment, Iranian Insurance Companies has launched electronic equipment insurance (EE). Under this policy, the physical damages on equipment like strokes, fire, thunderbolt, explosion and fall are covered.

For download request from please click bellow link :

Electronic Equipment Insurance (EE) request form.

Electronic Equipment Insurance for Small Business






Coverage incloded

Common coverage in EEI insurance are as bellow :

 

  1. Fire Special Perils
  2. Earthquake
  3. Any Electrical/Mechanical breakdown
  4. Faulty design, Faulty Material
  5. Damage due to moisture and humidity
  6. Damage due to Faulty/ Careless/Negligent operation by employees
  7. Riots, Strike, Malicious Damage
  8. Loss due to Theft or Burglary
  9. Smoke, Soot, Dust, Corrosive Gases etc.
  10. Terrorism Damage
But some times companies dont cover all of mentioned covers.

General excloded

Some of the covers included in this policy include :

    Faults or defects existing at the time of commencement of the present insurance known to the insured
    Wear and tear, Gradual deterioration due to atmospheric conditions
    Costs incurred in connection with the elimination of functional failures unless such failures were caused by an indemnifiable loss of or damage to the insured items
    Any cost incurred in connection with the maintenance of the insured items
    Loss or damage for which the manufacturer or supplier of the insured items is responsible either by law or under contracts
    Loss of or damage to rented or hired equipment for which the owner is responsible either by law or under a lease and/or maintenance agreement
    Consequential loss or liability of any kind or Description
    Loss of or damage to bulbs, valves, tubes, ribbons, fuses, seals, belts, wires, chains, rubber tyres, exchangeable tools engraved cylinders, object made of glass, porcelain or ceramics sieves or fabrics, or any operating media (e.g. lubrication oil, fuel, chemicals)
    Aesthetic defects, such as scratches on painted polished or enameled surfaces

Additional covers

Assistance Company will provide the following services as described below.

    Express freight
    Air freight
    Owners Surrounding Property
    Escalation
    Third party Liability
    Additional custom duty