Electronics insurance

Offers comprehensive coverage for all stationary and mobile communication devices, such as laptops, mobile phones, tablets, phone systems, etc. Some devices are insured outside of the office, with Europe-, or optional world-wide coverage extending even to damage caused by, for example, careless handling or moisture. A strong electronics insurance policy normally includes additional coverage for software, installation, service, and data restoration costs, so that in case of damage these often unavoidable extra expenses can also be smoothly reimbursed.

Good to know: Why an electronics and software insurance makes sense

Storm damage

A lightning strike in an adjacent overhead line creates overvoltage. The overvoltage causes a server to be irreparably damaged. The hardware damage alone is estimated at about 3,500 €. Another € 1,500 is needed to rebuild the technical devices.

Expensive light bulb change

A defective light bulb should be replaced. To reach it, the responsible worker climbs on a ladder and tilts with it. Unfortunately, it damages the sprinkler system of the office building, which then starts to sprinkle at the same time. Due to the resulting water damage, various electrical appliances have now to be replaced and a loss of approximately € 85,000 has arisen.

Theft from car

In a parking lot of a motorway service area a sales person is broken up the vehicle. The perpetrators loot a high quality tablet. Only by including the risk of movement in the insurance policy is such damage insurable. Overall, it's about 1,500 €.

Water for the flowers

The employee of a law office stumbles unhappily when watering the plants and tears a laptop off the desk. Display and hard drive are irreparably damaged, so that a new device must be purchased. The damage is estimated at 800 €.

Worth knowing about electronics and software insurance

The insurance is generally useful for all persons and companies that use electronic devices.
Electronic devices, systems, and systems such as office technology, measuring and testing technology, data and communication technology, medical technology and more are insurable. This includes permanently installed data carriers, such as hard drives.

Insurable are all damage to property caused, for example, by unforeseeable events or the loss of insured property. This includes for example Misuse, clumsiness, theft, robbery or looting or intent of third parties. Even short circuits, overcurrents or overvoltage as well as fire, lightning, explosion and implosion, stewing, singeing, smoldering, frost, water and moisture damage can be insured.
Uninsurable are for example damages caused by wear or aging.
Also not insured are tools and wearing parts, maintenance and preventive maintenance measures, as well as war, earthquake or operational exposure to moisture and acid fumes.
Insurance cover exists within the business premises registered in the insurance contract.
If a corresponding agreement has been reached, the risk of movement in Europe or even worldwide is also covered.
In addition to electronics and software insurance the following insurances are advisable:

Data insurance: Recovering data is often a lot more costly and expensive than replacing hardware. Data that has been lost due to damage to electronic equipment often has to be laboriously procured. A data insurance covers the costs for the recovery and re-entry of data and programs. As a further software insurance, data losses due to incorrect operation can be hedged.

Business Interruption Insurance: If equipment designed specifically for operation fails, getting a quick replacement is often not that easy. Yield losses during downtime can be the result. A business interruption insurance covers and replaces the costs that one can't earn, because the former operational state of a damaged thing must first be restored or replaced.

Info PDF

Electronics insurance