Business Gadget Insurance

Cheap business gadget insurance

We live in an increasingly digitised world, which means most types of businesses now rely on digital devices to complete their day-to-day activities effectively. As the business world is becoming more connected and reliant on technology and gadgets, insurance for those devices is a necessity. As a result, many businesses, start-ups, and brands rely on the right business gadget insurance as part of their overall risk management.

Business gadget insurance, also known as corporate gadget insurance, can protect a business’s devices against theft, loss and malicious damage, and some of the best business gadget insurance policies can even cover businesses against accidental damage.

What’s the difference between business gadget insurance and other insurance plans?

Business gadget insurance operates just like any other gadget insurance coverage, except that it’s designed to insure devices that are owned by businesses rather than individuals.

Which devices can be covered by a business gadget insurance plan?

A business gadget can be any electronic item used in a business environment, for example:

• Smartphones
• Laptops
• Desktop computers
• Printers
• Photocopiers
• Digital cameras
• Games consoles
• Tablets
• iPads
• iPhones, etc.

What issues does business gadget insurance cover the business against?

Business gadget insurance is likely to cover the following ‘insurable risks’ as standard:

• Theft
• Loss
• Malicious damage

However, it’s often possible to bundle add-ons like ‘accidental damage cover’ with your business gadget insurance for a small fee.

What are the benefits of business gadget insurance?

• Business gadget insurance can protect your business financially, because you might be obliged to pay to repair or replace business gadgets yourself if you didn’t have insurance in place.
• You will be reimbursed for the expense of replacing the gadget when you make a successful claim.
• The more gadgets you insure, the more you can save, as the insurer will likely offer a discount for a multiple device policy.
• All of your corporate gadgets can be protected wherever you are and by whichever staff member is using them.

Are my gadgets covered if my staff are responsible for any damage to my business gadget?

Many insurance firms offer coverage for gadgets damaged accidentally by a business employee. However, check with your insurance firm to confirm what’s included in their terms and conditions.

How soon can I make a claim on my business gadget insurance policy?

Check your insurance firm policy’s conditions as to when you can make a claim. For example, some insurers do not allow claims during the first 14 days of the policy.

Some businesses are making the error of relying on conventional product warranties, primarily because they are in no hurry to adopt the principles of insurance risk management. Therefore, many businesses have not yet taken full advantage of business gadget insurance in protecting their tech.

With an ever-increasing need to protect a company’s gadget assets, business insurance is the best option to safeguard from theft, loss or unintentional damage.