What Is Computer Insurance?

Computer insurance means that the insurant (usually an enterprise) pays the insurance premium to the insurer according to the terms of the computer insurance. The insurer is liable for compensation for property losses caused by the agreed computer hardware loss, data replication costs and other accidents Commercial liability for financial liability.

Computer insurance

Computer insurance is designed for computer-specific risks. It mainly covers two types of risks, one is the risk of the computer itself, that is, the risk of hardware loss, and the other is the cost of data replication. In addition, it is also responsible for compensation for temporary expenses incurred after the loss of computer hardware.

The following property may be within the scope of the subject-matter insured:

(1) computer host and peripheral equipment;

(2) computer network equipment;

(3) Program-controlled switch equipment.

The following properties are not covered by the subject matter of insurance:

(1) the insurance subject equipment that has reached the prescribed depreciation period;

(2) not renting property to another person at the place of business of the insured;

(3) various types of data, application software, and system software (including system software technical manuals, use licenses, and storage media) stored in the host and other media;

(4) Computer consumables and wearable parts;

(5) Account books, charts, documents, records, contracts, manuscripts, materials, securities, bills or other documents.

During the term of this insurance, the insurer shall be responsible for compensation for any loss caused by the following reasons if it is located or stored within the scope of the place specified in the detailed statement of this insurance policy:

(1) fire, explosion, or burst of water pipes;

(2) Lightning strikes, heavy rains, floods, typhoons, storms, tornadoes, snowstorms, hailstorms, ice, mudslides, cliff collapses, sudden landslides, and sudden ground collapses;

(3) Falling of flying objects and airborne objects;

(4) the negligence or negligence of the computer operator in this post;

(5) In the case of a power failure protection device and voltage stabilization equipment or an uninterruptible power supply (UPS), sudden power failure due to a power supply unit or an accident, electrical short circuit, or other electrical reasons;

(6) Theft, robbery or robbery from outside and with obvious traces.

In the event of an insured accident, the insurer is responsible for compensating for the loss of the insured subject to necessary and reasonable measures to rescue the insured subject or prevent the spread of the disaster.

After an insured event occurs, the insurer is also responsible for compensation for necessary and reasonable expenses paid by the insured to prevent or reduce the loss of the subject-matter insured.

The amount of computer hardware loss insurance is determined by the insured according to the underlying market price, and it is listed in the insurance policy details.

The insured value of the subject-matter insured is the replacement value at the time of risk, that is, the price of new equipment of the same brand or similar models, specifications, and performance, including the ex-factory price, transportation costs, insurance premiums, taxes, and possibly payment Tariffs and installation costs.

In the event of a loss under this computer hardware loss insurance, the insurer calculates the compensation amount as follows:

(1) Total loss: when the insured amount is equal to or higher than the insured value, the compensation amount shall not exceed the insured value; when the insured amount is lower than the insured value, compensation shall be made according to the insured amount;

(2) Partial loss: when the insurance amount is equal to or higher than the insurance value, the compensation amount is calculated as the actual loss; when the insurance amount is lower than the insurance value, the compensation amount is calculated as the ratio of the insurance amount to the insurance value;

(3) If the property contained in this insurance policy is more than one, it shall be dealt with in accordance with the provisions of this clause.

After the insured suffers part of the losses, the insured amount shall be reduced accordingly. When the insured needs to recover the insurance amount, the insurance premium shall be repaid, and the insurer will issue an endorsement.

In the event of an insured accident, the amount of compensation necessary and reasonable for the rescue costs paid by the insured to prevent the spread of the disaster accident shall be calculated separately from the loss of the subject-matter insured, and the maximum amount shall not exceed the insurance amount of the damaged insurance property. When the target is compensated proportionally, the cost is also compensated in the same proportion as the property compensation.

The residual part of the insured subject to loss is agreed to be discounted to the insured, and the compensation shall be deducted in the same proportion as the property compensation.