The policy has several sections as follows:
1. Hardware ( Material damage).
2. Software ( Cost of re-installation).
3. Additional cost of working.
The material damage cover is for accidental damage to the computer including electrical damage due to electrical fluctuations.
The policy limits cover to the computers in the premises at the place of work. However, the policy can be extended to cover transits as well as in other premises. It can be extended to provide worldwide cover.
The material damage cover is all risks for accidental damage with few exclusions. It can be extended to cover fire and extended perils normally covered under fire and perils policy. These extensions must be requested for specifically.
The software cover is for rewriting the programmes or purchasing replacements. However, the policy requires that back up copies be maintained.
The additional cost of working provides cover for expenses incurred in purchasing time in a third party’s installation and working overtime following loss or damage to the installation.
