Electronic Equipment (EE) Insurance Policy

Product Overview

Modern enterprises are run, either in a major part or sometimes entirely, on electronic machinery. This includes everything from the telephones and computers in a software company to the MRIs and X-ray machines in a hospital.

Any damage to this kind of equipment, from fire, lightning, humidity, faulty installation or even burglary, can be tremendously damaging to the organisation.

Our Electronic Equipment Insurance was designed with an understanding of the electronic risks that modern enterprises face every day, and the kind of support that can help them through instances of damage.

The policy is an ”accident” insurance that covers all risks that lead to sudden and unforeseen losses, which physically affect the subject-matter insured.

Note: The sum insured must always be the replacement value of the insured electronic equipment (value of the new item plus customs duties, transportation and installation charges).

What's Covered

While the policy does cover nearly all kinds of sudden and unforeseen losses that physically affect the subject matter insured, the following form a vast majority of the causes:

Fire, lightning, explosion, falling aircraft
Smoke, soot, corrosive gases
Water and humidity
Failure of air conditioning
Short circuit and other electrical causes
Design, manufacturing, assembly and erection faults, defects in casting and material, workshop errors, bad workmanship
Faulty operation, lack of skill, gross negligence
Malicious acts by workmen, employees, third parties
Burglary
Hail or frost

Extensions

External Data Media Cover

Protects the loss of external data media. The cover is provided for both the material value of the stored information and the cost of reprocessing and restoring the lost information.
Increased Cost of Working Cover

Covers the extra charges and expenses incurred if the required computing capacity will need to be hired in the event of a breakdown. It includes costs like hire charges, transport charges for data media and personnel, expenses for accommodation away from base, night work, work on public holidays etc.

How to Get Insured

Apply by Phone

Call us at 800 SUKOON (785666) for more information and to enrol over the phone.

Apply by Email

Drop us an email with all your details and we'll get back to you soon.

Apply in Person

Walk into one of our branches to get information, apply, and enrol in person.

Product Resources

FAQs

Do you cover faulty design, defective material and workmanship?

No, any loss or damage to items that are immediately affected by the above are not covered. However, your insurance can be extended to cover any loss or damage to the correctly executed items resulting from an accident that happened because of faulty design, defective material or workmanship.
Is my travel insurance plan valid on any airline, including “cargo” flights?

Yes, the insurance is valid on any airline as long as the passenger is assigned a proper seat.
Is war risk cover compulsory?

No, it's not. It totally depends on you. But we would say that it is advisable.
Our stock rotates every month. How will you provide coverage for it?

So, this is how it goes. You will need to estimate the maximum value of the stock that you may be holding at a particular point of time during the policy. This will be considered as the sum insured and the premium rate is charged based on this amount.

At the beginning of each month, you will need to declare the highest value of the stock that you were holding during the previous month. The same will be considered as the declaration for that month. At the end of the policy period, the premium is adjusted based on the average monthly declarations provided by the insured.
We are manufacturing plastics. Can you provide insurance for us?

To be honest, we don't usually insure plastic factories. However, you can reach out to us and we can come to a decision based on your case.

See more FAQs

What our customers think

The reimbursement is done in a timely manner. A week's time of processing is good for me. I do appreciate the new form of filing, it is automated, and hence, hassle-free.

Genevieve
I am using Sukoon from the last 5 months. Very good service. I applied for a reimbursement request through the mySukoon app and I received the approval within three working days.

Drisya
Efficiency!!! The app is easy to use. Uploading forms is easy!! I don't have to go to the HR to give materials and ask how my claim is doing. I can go directly to Sukoon.

Sarah
On my accident claim, I got immediate feedback and action from Sukoon and the customer service executive helped me sort out the issue quickly. Thank you for your support and assistance.

Moin
The customer support team is great, they provide clear information to proceed. Everything was so fast and I received my policy in less than an hour.

Mohamed
The staff was very helpful with the queries and assisted in all my requests. The service was very quick and prompt in the policy issue process.

Fahmida

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Erection All Risk (EAR) Complete protection against all risks involved in the erection of machinery, plant and steel structures, including for third-party claims.
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Machinery Breakdown (MBD) Effective cover for any unforeseen and sudden physical loss of or damage to the plant, machinery and mechanical equipment.
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Boiler and Pressure Vessel (BPV) Insurance cover for damage to boiler and pressure vessels in steam power stations, factories, plants, and mills, and any third-party liabilities resulting from it.
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Contractor's Plant and Machinery (CPM) Annual insurance cover for any unforeseen and sudden physical loss of or damage to a contractors’ plant and machinery, necessitating repair or replacement.
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Comprehensive Machinery (CMI) Complete, all-encompassing cover for all the assets and machinery in your plant, including the property, the building, the stock, the goods in progress etc.
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Deterioration of Stock (DOS) Insure your business and products against deterioration in cold storage due to a breakdown of refrigerating machinery.
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Machinery Loss of Profits (MLOP) Insurance cover for the actual loss of gross profits sustained as a result of a business interruption caused by damage to the plant or factory machinery.
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Principal’s Advance Loss of Profits (ALOP) Insurance protection against the actual loss of gross profit sustained as a result of the delayed start of business operations due to an accident.
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