Loss of damage caused by the following perils are specifically excluded from the scope of the policy.
Normal wear and tear and corrosion of parts arising from use and continuous operation (limited to parts
immediately affected, subsequent damage to other parts of the unit covered).
War, wilful acts, gross negligence.
Faults for which third party is responsible by law or contract.
Failure due to interruption of gas, water or power supply.
Consequential loss of any kind.
Loss to consumables and operating media etc.
How to select the sum insured?
The sum insured or value of the policy should be equivalent to the present day purchase price of a similar
new electronic equipment including all incidental expenses like cost of installation, duty, freight, taxes etc.
If the sum insured is less than required as stated above then the claim will only be paid in such proportion as
the sum insured bears to the amount required to be insured.
The policy can be extended to include the following risks on payment of additional premium.
Damage to external data media for example punch cards, tapes, discs etc. as also the cost of reconstruction of
data on this external media caused by a peril covered under the policy.
The additional expenditure incurred due to use of a substitute computer system as a result of an accidental damage
to the computer insured under the policy and which is covered by the policy.