FAQ - Electronic Equipment

  1. Is there any time limit for reporting an electronic equipment insurance claim to you?

    You must notify us of any potential claim within fourteen (14) days from the date of the accident.

  2. Should we notify you of all events, including those where the loss amount is below our deductible?

    We recommend that you notify us about all events, regardless of the amount of loss. This notification will protect your right to lodge a claim under the policy, should it later become necessary to do so. If the loss amount is later confirmed to be below the deductible, the submission of further documentation to us is optional.

  3. What documentation or proof is required if the damaged equipment is beyond repair?

    We will require a letter from an authorized dealer which confirms that the damaged equipment is beyond repair due to total loss or lack of parts.

  4. Can we buy a new model with more functions and features when we replace the lost equipment? Will the full price of this new equipment be recoverable under our policy?

    We have no objection if you replace the lost equipment with a newer or more advanced model. However, our settlement will be based only on the model and specifications of the equipment that was lost. The cost of upgrading the equipment is not recoverable. For more details, please refer to the basis of settlement clause in your policy.

  5. We just lost a piece of equipment. We urgently need it for business and would like to buy a replacement immediately. Do we need to obtain your prior approval to do this? Would it prejudice our right of claim under the policy?

    Prior approval is not required to replace the lost piece of equipment. It will not prejudice your right of claim under the policy. However, our settlement will be based only on the model and specifications of the equipment that was lost. The cost of upgrading the equipment is not recoverable.