Please don’t get us wrong – there are lots of ways to insure a computer. For computer insurance, if it’s a household PC then it would be a lot cheaper to add it onto your home insurance policy or take out a simple gadget insurance policy.
If it’s a computer you use in a small business then an alternative and probably cheaper option, would be to add computer insurance onto your main business insurance policy.
Why Take Out Computer Insurance?
A specialist insurance policy is really useful if you’ve got special requirements. For example, a ‘normal’ policy will quite happily replace your physical computer, but what about any specialist software? There are numerous special programs for various professions and industries which cost an absolute fortune to replace. Therefore, computer insurance would be a really good policy for you to have.Most ‘normal’ insurance policies would not pick up the cost of specialist programs and even if they did, they certainly wouldn’t pay for the data reconstruction costs, the extra expenses to restore your data or to rent alternative equipment. The right level of computer insurance would cover you.
Another scenario is loss of profits. Just imagine your IT system is responsible for your full stock ordering system – and due to an electrical breakdown, it blows up! Not a good day in the office for sure, but what about the profits you’re going to lose because you cannot trade? A ‘normal’ insurance policy certainly won’t cover that. Even if lost profits are covered, damage caused by breakdowns are excluded!
Yet another scenario that bigger businesses need to consider is off-site storage. Where would that be insured under a ‘normal’ policy, and what happens in the event of it going offline? Would your ‘normal’ policy cover that? I would suggest not.
Another key aspect of cover often provided under a computer insurance policy is full theft insurance. Full theft means that there are no restrictions that the theft must follow forcible or violent entry/exit, which is a very common clause on a standard business insurance policy.
Another Example Of Why You Need Computer Insurance
I’ll give you an example. Many years ago, one of our clients had a team turn up to take away all of their PC’s as their new equipment was on its way. An hour later nothing had turned up, so the MD was contacted who was rather ‘unhappy’ as he hadn’t ordered any new IT equipment and they had basically let thieves walk in and walk out with all of their computer equipment…
A standard business policy does not cover losses of that nature – but a specialist computer insurance policy does.
And, just out of interest, how do you define a computer? Well, under a specialist computer policy it can also include things like Interconnecting Wiring, Computerised Telephone Exchanges and Satellite/Telecommunications Links, Air Conditioning and Cooling Equipment, Generating and Voltage Equipment, Electronic Access Equipment, Temperature and Humidity Recording Equipment!
Just call us and we can advise you on the type of computer insurance cover you need to ensure your requirements are covered.
One size fits all! No way! At Prizm we think that a one size fits all approach is just plain wrong as none of our clients, even if they are in the same industry sector are the same, so why would your computer insurance be any different?
Local Advice On Computer Insurance
We are expert insurance brokers working from our offices in Tamworth, and using our vast experience of your sector we will tailor an individual policy to the specific requirements you have for your company.
We are proud to do business in an honest and ethical manner. And that’s why in almost every case we don’t take a commission from the insurance companies for placing your computer insurance or any other kind of insurance with them. Instead we charge our clients a fee. You will see that our earnings are completely transparent and you can be reassured that our recommendations for your insurance, is not influenced by the rate of commission offered by any insurance companies.
Since 2006 we have been providing expert commercial insurance advice including computer insurance, to our wide range of business clients throughout Staffordshire, the West Midlands and beyond. Our offices are in the small town of Tamworth and you are welcome to pop in at any time.
If you are a business owner or manager we will give you expert advice on every aspect of your business insurance, tailored to your exact needs. We are the local experts in insurance, that’s what we do, so please don’t take a risk and request a quotation, arrange a call back or just give us a ring on 01827 313 931.
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