After agreement on the duration and number of items being insured, you could suffer unforeseen and sudden physical loss or damage from any cause other than those specifically excluded. This may require immediate repair or replacement which may take a large sum of your personal money. Therefore, we’ll be there to insure the cost by payment in cash up to an amount not exceeding the value of the equipment.

It’s important to note that, the sum we’ll insure is equal to the cost of replacement of the insured items by new items of the same kind and capacity, which means their replacement costs including freight, custom duties and dues.

It covers:

• Any expenses required to repair a damaged item and restore it to its previous state.
• In cases where an insured item is destroyed, the company shall pay the actual value of the item immediately before the occurrence of the loss.

• We exclude deductible or excess amount applicable for each loss.
• Loss or damage caused by an earthquake, volcanic eruption, tsunami, hurricane, cyclone or typhoon.
• Loss or damage as a result of theft.
• Loss or damage caused by any faults or defects existing at the time of commencement of this policy.
• Loss or damage directly or indirectly caused by the failure or interruption of any gas, water or electricity service or supply.
• Loss or damage through wear and tear, erosion, corrosion, incrustation or any form of gradual deterioration due to atmospheric conditions.
• Any costs incurred in connection with the elimination of functional failures.
• Any costs incurred through maintenance and exchange of parts done of the insured items.
• Loss or damage for which the manufacturer or supplier of the insured items is responsible either by law or under contract.
• Loss or damage to bulbs, valves, tubes, ribbons, fuses, seals, belts, wires, chains, rubber tyres, exchangeable tools, engraved  cylinders, objects made of glass porcelain ceramics, sieves or fabrics, or any operating media (e.g. lubrication oil, fuel, chemicals).
• Aesthetic defects, such as scratches on painted or polished surfaces.

Data can’t be physically touched but it can be heart of your companies survival and we’re here to cover that too. If the external data media suffers any material damage stated under Section 1 of this policy this will be insured.

• It’s important to note that the sum insured is the amount required for restoring the lost or damaged data.
• Any expenses incurred within a period of 12 months as from the date of the occurrence will be covered strictly for the purpose of restoring data to its previous state. This includes any loss or damage that may have been incurred along the way.

• Any costs arising from false programming, punching, labeling or inserting, inadvertent cancelling of information or discarding of data media, and from loss of information caused by magnetic fields.
• Consequential loss of any kind or description whatsoever.

In a case where material breakdown indemnified in section 1 gives rise to a total or partial interruption of  operations, we’ll  cover you for any additional expenditure incurred for the use of substitute equipment not covered under this Policy up to an amount not exceeding the agreed indemnifiable per day and not exceeding the sum insured.

• For this section, it’s key to note that the sum insured stated in the policy is the amount which you would have to pay as additional expenditure for upto 12 months’ for use of substitute equipment of similar performance.
• If the equipment needed requires transportation or any other additional costs that were previously stated, they too will be covered.

• For any additional expenditures incurred during the period of interruption that are higher than the annual sum insured, we shall only cover in respect of that proportion of the agreed annual sum.