No business can nowadays do without electronic equipment and the business might even stop functioning should any of this equipment be out of order! Although such equipment can be normally covered under the contents policy, insurers have developed a specialized type of cover often referred to as an Electronic Equipment Insurance (EEI) which would include:
- Accidental damage including breakdown and losses due to lightning and electrical power fluctuations or surges,
- Loss of data stored on computers,
- additional expenses incurred following damage to the property insured, and
- Portable equipment may also be covered whilst away from the premises and even when abroad
Items which may be included under this type of policy include computers, printers, servers, photocopiers, laptops, point of sale systems, PABX systems and any other business equipment which is used in the business. A similar policy is the Business All Risks, which however might not cover loss of data and expenses incurred as a result of the damage.