{"id":21627,"date":"2022-07-25T07:21:06","date_gmt":"2022-07-25T14:21:06","guid":{"rendered":"https:\/\/getakko.com\/?p=21627"},"modified":"2023-11-14T15:00:59","modified_gmt":"2023-11-14T23:00:59","slug":"business-device-insurance-for-electronics","status":"publish","type":"post","link":"https:\/\/blog.getakko.com\/business-device-insurance-for-electronics\/","title":{"rendered":"Business Device Insurance for Electronics Guide"},"content":{"rendered":"

Electronic devices are not only more vulnerable to damage but also expensive and hard to replace. Yet the most important thing for your business and employees is ensuring that the electronic equipment you use functions right always. Damaged devices can often affect operations and cost your business as you’ll have to replace the broken or stolen ones, and some work might stop without them.<\/span><\/p>\n

Many businesses trust employees with valuable electronic devices such as desktop computers, <\/span>tablets<\/span><\/a>, cash registers, laptops, etc. However, they often experience theft or damage of a corporate electronic device caused by various factors. So choosing a business electronic device insurance plan needs careful decision-making and research.<\/span><\/p>\n

Fortunately, an electronics device insurance policy for your business can safeguard your needs and help mitigate the cost of such electronic breakdowns.<\/span><\/p>\n

Here’s a guide to help you understand <\/span>business device insurance<\/span><\/a> policies and what they cover.<\/span><\/p>\n

What Is a Business Device Insurance for Electronics?\u00a0<\/b><\/h2>\n

A business device insurance for electronics is typically a coverage plan designed to provide exclusive and comprehensive coverage for electronic devices used by a business.<\/span><\/p>\n

This can include computers, cash registers, laptops, point-of-sale devices, and any other electronic equipment you work with in your daily business operations.<\/span><\/p>\n

In addition to repairing or replacing damaged, lost or faulty devices, electronic insurance can also cover the business cost of restoring lost data due to failure of the electronic equipment as well as other expenses related to a business interruption caused by the equipment breakdown.<\/span><\/p>\n

What Type of Business Insurance Protects You From Damage to Your Equipment?<\/b><\/h2>\n

While there are few stand-alone device insurance policies for electronics like AKKO, protection for your electronic business equipment and other assets is included in the<\/span> Business Owner’s Policy (BOP)<\/span><\/a>, which is often considered a foundation for electronics device insurance. A BOP combines three essential coverage types to help safeguard your electronics from risks. These include:\u00a0<\/span><\/p>\n

General liability insurance<\/b><\/h3>\n

This business insurance plan helps cover claims that your electronic equipment caused property damage or bodily injury to someone else. While this doesn’t involve direct damage to your electronics, it’s a crucial type of business insurance to help you cover issues caused by your devices.<\/span><\/p>\n

Commercial property insurance<\/b><\/h3>\n

This covers standard equipment perils such as damage or theft to electronic devices. Your property insurance policies cover electronic equipment used primarily for work and their software. If your device is lost, damaged, or stolen, property insurance pays for the repair and replacement up to your policy limits.<\/span><\/p>\n

Typically, property insurance helps protect your owned or rented commercial building, tools, and equipment you use to operate your business, including computers, cell phones, tablets, inventory, software, parts, etc.<\/span><\/p>\n

Errors and omissions insurance (E&O)<\/b><\/h3>\n

While a property insurance plan will protect your electronic equipment, it will not cover your business from certain liability types associated with your work on the device. If, for example, an employee loads an email containing a virus that then infects your business computers, your insurance company could hold you liable for damages and refuse to pay the cost of repair or replacement.<\/span><\/p>\n

Errors and omission insurance help cover electronics breakdown related to professional mistakes. In addition, this policy is combined with cyber liability insurance that protects against mistakes that could lead to data breaches or cyber-attacks that affect business operations.<\/span><\/p>\n

AKKO<\/b><\/h3>\n

When looking for the most reliable business device coverage for electronics, the <\/span>AKKO protection plan<\/span><\/a> is a leader with customizable policies. While AKKO offers a phone-only protection plan protecting your business cell phones from common issues like theft, internal breakdowns, and accidental damage, it also offers a more comprehensive “Everything Protected” plan.<\/span><\/p>\n

With this comprehensive insurance plan, you can receive reliable, high-quality electronic device insurance for your cell phones, along with comprehensive coverage for up to 25 of your most valued items. The good news is that once you’ve locked down protection for your electronic equipment, such as a smartwatch, tablet, desktop computer, or <\/span>laptop<\/span><\/a>, you’ll still likely remain with several spots left that you can use to cover other valuable business items.<\/span><\/p>\n

This AKKO insurance plan allows you to enjoy coverage for various electronic devices as well as photo and video work equipment, gaming consoles and accessories, music and audio equipment, business supplies, non-motorized transportation, and so much more.<\/span><\/p>\n

The “Everything Protected” plan from AKKO covers various malfunctions and issues, including theft, vandalism, accidental damage, and internal part failure claims. With AKKO, you can file unlimited claims for business devices and enjoy low deductibles.<\/span><\/p>\n

Business device insurance vs. Manufacturer’s warranty<\/b><\/h3>\n

When you buy new electronic equipment like desktop computers or laptops, you can include a manufacturer’s or extended warranty to shield your business against common failures and breakdowns. However, the original manufacturer’s warranty doesn’t cover most electronics failures.<\/span><\/p>\n

Device insurance plans extend beyond the basic stipulations of a warranty as they cover issues like mechanical breakdown or data loss in addition to vandalism, theft, and accidental damage. So businesses should always consider device insurance in addition to a manufacturer’s warranty.<\/span><\/p>\n

Who Needs Business Device Protection?<\/b><\/h2>\n

Electronics device insurance is essential for small, medium, and large businesses. Any business that uses electronic devices in its operations should have protection from an insurance plan. It could be included as a stand-alone protection agreement or together with commercial property insurance.<\/span><\/p>\n

You probably need device insurance for business electronics if you have any of the following items:<\/span><\/p>\n