Electronic Device Insurance

It refers to the sudden and unexpected occurrence of the damage. For instance, damage on a computer system located in the basement of a damaged building which is flooded frequently cannot be considered an unexpected development. If no measures were taken, one cannot consider it a sudden and unexpected event.

It refers to cases whereby the failure or damage on the internal (or external) structure is caused by an external effect rather than a problem with the operations of the insured device or its internal operations. For instance, if a computer does not boot up upon powering it up in the morning (without any external intervention) the problem lies with the internal systems of the computer, and hence, this is not covered by the insurance. Such a damage can only be covered by the “Scope of Warranty”.

On the other hand, if the computer in question fails due to an excessive voltage released by a failure in the mains transformer unit to which the facility is connected, the damage will be deemed to have been caused by external factors and will be covered by the insurance rather than the warranty.

All electronic devices used for commercial purposes (computers, information processing centers, office equipment, graphics publication industry equipment, alarms, tests, automation and assessment equipment, etc.) and other electronic devices can be insured.

All devices employing semi-conductor technology for commercial purposes:

Computers, IT centers, office equipment
Communications, radio, TV equipment
Medical devices
Graphics and publication industry equipment
Alarm, test, automation and measurement devices

They are usually based on semi-conductor technology.
As a rule, they do not operate on a mechanical basis.
They typically serve to receive or transmit information and perform measurements, controls and tests.

This question can best be answered with a table, to make the comparison with a better known type of insurance -Fire Insurances- easier.

It can be considered as the sum of the following items:

Cost of replacing device
All kinds of shipping costs
Customs, duties, taxes and charges
Assembly costs
The replacement price practice prevents glitches from arising due to a claim regarding the operation of the electronic device covered and enables repairs so that operations can be continued as if no damage had ever occurred. Otherwise, the device’s performance would be reduced and its operations would be affected.

Brand
Model
Capacity
Production year (maximum three years)
Risk address
Claims history
Power source
Deductible
Origin
Regular maintenance
User
Operational discipline
Other protective measures

As is the case with all engineering insurances, Electronic Device Insurances are also deductible based.

The application of a deductible, referring to assigning the liability for a small part of the claim figure to the insured, ensures not only more affordable insurance costs, but also encourages the insured to take measures to prevent the occurrence of small claims considered to be below the deductible threshold. This makes it possible to focus on damages that will lead to substantial material claims, which is the actual reason for the insurance coverage.

Earthquakes
Strikes, lock-outs, commotion, public disturbances
Express shipping, overtime, leave-pay and raises
Mobile electronic devices
Valves and tubes

In case of partial damages: Claims shall be paid in the form of the substitute price and necessary repair costs, with reference to the replacement of the repaired part with a new one.

In case of complete loss: Claims shall be paid by taking the current price established and deducting the wear and tear the device has incurred.