Electronic Device Insurance

Electronic Device Insurance
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We live in an age of technology and electronic devices are an essential part of life…But when these sensitive devices breakdown or get damaged by the huge range of technical and human factors that pose a risk this in turn may lead to both material losses and the disruption of your business.Have you taken some precautions against these eventualities?

Come and get MAPFRE SİGORTA’s Electronic Device Insurance and let us secure the electronic devices at your office against sudden and unexpected risks, leaving you to focus on what you do best with a clear mind.

  • Negligence, misuse and operational errors
  • Damages that can be inflicted by third parties
  • Theft, robbery, armed robbery and sabotage
  • Fire (including blasts and flares), smoke
  • Explosion and implosion
  • Lightning (direct and indirect effects thereof), storms and hailstorms
  • Air and land vehicle impacts
  • Floods/flooding, internal water and sprinkler leaks
  • Underground water and rain water, corrosion
  • Excessive voltage and induction

Supplementary Coverage

  • Earthquakes
  • Strikes, lock-outs, commotion, public disturbances, acts of terrorism and sabotage
  • Express shipping, overtime, leave-pay and raises
  • Supplementary mobile electronic devices
What is Electronic Device Insurance?
Electronic Device Insurance is an All Risks insurance covering any damages incurred on the devices under the scope, subject to the following requirements.

Sudden and unexpected
Caused by external factors

What does “sudden and unexpected” damage mean?
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.
What does “caused by external factors” mean?
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.

Which devices can be insured under the Electronic Device Insurances?
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.
What devices can be covered through Electronic Device Insurance?
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

What are the fundamental characteristics of the devices which can be covered by the Electronic Devices Insurance?
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.

Risks Electronic Device Insurances Workplace Insurances
Negligence, Misuse and Operational Errors Yes No
Theft, Robbery, Armed Robbery Yes No
Fire with Flames Yes No
Fire without Flames (Blast or Flare) Yes No
Smoke Yes Supplementary Coverage

Explosion Yes Yes
Implosion Yes No
Effect of Direct Lightning Strike Yes Yes
Aerial Vehicle impact Yes Supplementary Coverage
Vehicle impact Yes Supplementary Coverage
Internal water Yes Supplementary Coverage
Sprinkler leak Yes Supplementary Coverage
Flooding Yes Supplementary Coverage
Underground Water Rain Water Yes No
Humidity, Corrosion (Rust), Frost Yes No
Storms Yes Supplementary Coverage
Hailstorm Yes No
Effect of Indirect Lightning Yes No
Over-Voltage, Induction Yes No
Damages that May be Inflicted by Third Parties Yes Supplementary Coverage
Which risks are covered by the Electronic Devices Insurance and how does it differ from the Workplace Fire Insurance (Workplace Insurance)?
This question can best be answered with a table, to make the comparison with a better known type of insurance -Fire Insurances- easier.

Risks Electronic Device Insurances Workplace Insurances
Negligence, Misuse and Operational Errors Yes No
Theft, Robbery, Armed Robbery Yes No
Fire with Flames Yes No
Fire without Flames (Blast or Flare) Yes No
Smoke Yes Supplementary Coverage

Explosion Yes Yes
Implosion Yes No
Effect of Direct Lightning Strike Yes Yes
Aerial Vehicle impact Yes Supplementary Coverage
Vehicle impact Yes Supplementary Coverage
Internal water Yes Supplementary Coverage
Sprinkler leak Yes Supplementary Coverage
Flooding Yes Supplementary Coverage
Underground Water Rain Water Yes No
Humidity, Corrosion (Rust), Frost Yes No
Storms Yes Supplementary Coverage
Hailstorm Yes No
Effect of Indirect Lightning Yes No
Over-Voltage, Induction Yes No
Damages that May be Inflicted by Third Parties Yes Supplementary Coverage
How is the insurance price set for Electronic Device Insurance?
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.

Which factors affect the price of Electronic Device Insurance?
Brand
Model
Capacity
Production year (maximum three years)
Risk address
Claims history
Power source
Deductible
Origin
Regular maintenance
User
Operational discipline
Other protective measures
Can Electronic Device Insurance be effected without a deductible?
As is the case with all engineering insurances, Electronic Device Insurances are also deductible based.
What is the reason for applying deductibles on insurance policies?
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.
What are the supplementary coverage elements of Electronic Device Insurance?
Earthquakes
Strikes, lock-outs, commotion, public disturbances
Express shipping, overtime, leave-pay and raises
Mobile electronic devices
Valves and tubes
How are claims payments made for Electronic Equipment Insurances?

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.

What are the leading causes of Electronic Device Insurance claims?
Negligence, Carelessness, Incorrect Use 69,30 %
Indirect Effects of Lightning 7,50 %
Over-Voltage and Induction

5,90 %
Water 5,80 %
Theft 4,40 %
Fire 0,60 %
Other 6,50 %
What are the major sources of Electronic Device Insurance claims?
Negligence, Carelessness, Incorrect Use 46.20 %
Indirect Effects of Lightning 16.10 %
Over-Voltage and Induction 10.10 %
Water 7.80 %
Theft 11.50 %
Fire 3.10 %
Other 5.20 %
The information and documents you may need with respect to the product you are interested in are provided below. Should you have any questions, you can get even more detailed information by contacting our nearest agency.

General Terms and Conditions of Electronic Device Insurance